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- 📢 #Gate Square Writing Contest Phase 3# is officially kicks off!
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He Had Suffered a Great Loss in Altcoin Investment: He Opened a New Position with His Last Money! - Coin Bulletin
A whale, who recently suffered a significant loss in altcoin, in which he was one of the biggest investors, opened a new position with his remaining last money to recover his loss.
According to the sharing made by the on-chain analysis platform Spot On Chain, a whale who experienced a significant loss in an altcoin in recent days has redirected his course to a new position. After this loss, the whale seems to be reshaping his portfolio with his last remaining funds in order to recover the losses.
Spot On Chain reported that the whale opened (uzun) long position for **HYPE by depositing $8 million worth of USD Coin on the (USDC) Hyperliquid exchange.
When the details of the position in question are examined, it is seen that it was opened using 3x leverage and the position size was 9.25 million dollars. It is understood that the whale opened the position at the level of 26.23 dollars and was in profit of over 266,000 dollars while the HYPE price was around 27.01 dollars.
It is stated that the liquidation level of the position is at 3.47 dollars and nearly 2 thousand dollars of funding fee has been paid so far.
He was one of the biggest investors
This whale investor was among the largest stakers of Ethena's (ENA) during the April-June period last year. However, they suffered a loss of approximately 13.01 million dollars when the market failed to meet expectations. The value of their 21 million dollars investment dropped to below 8 million dollars due to the decrease in ENA price.
According to CoinGecko data, after the whale took a HYPE position, the price increased by 8% and is currently trading around $27.27.