JUST IN: A Trader Opened a Massive 50x Long Position in This Altcoin, Very Close to Liquidation Level
According to Onchain data, a trader seems to have taken a very risky move with a high leverage ratio.
According to Onchain data, the crypto whale with the address 0xe4d31c2541a9ce596419879b1a46ffc7cd202c62 opened a long position worth $95 million for Ethereum (ETH) with 50x leverage.
The trader's liquidation point is at $2,089 at the time of writing. The ETH price is currently trading at $2,216. The position opened at $2,197 has a profit level of approximately $800,000 at the time of writing.
In addition, the trader also has a $40 million long position for Ethereum on another platform, GMX, and the liquidation level is $2,055.
You can access the details of the first position opened by the Trader here.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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