A whale precisely sold on-chain crude oil at an average price of $114 yesterday, and has already doubled their principal with a short position.
BlockBeats News, March 10, according to reports, WTI crude oil (CL) on Hyperliquid has dropped more than 25% in the past 24 hours, currently quoted at $85.7, down 26.2% from yesterday's high of $116.
The whale address starting with 0x434f topped out on-chain crude oil at 10:49 yesterday, continuously opening short positions in the $112 to $116 range. Ultimately, the whale established a 3x leveraged short position at an average price of $114, with an initial position size of $1.83 million.
As oil prices plunged sharply during the day, this address kept rolling over and increasing its position. The account balance grew from $470,000 to $1.18 million, doubling the principal through this round of crude oil shorts.
Currently, the whale only holds a 3x leveraged CL short position, with a position size of about $1.72 million and an unrealized profit of $350,000 (33%). The average holding price has dropped to $103.9. There has not been a significant reduction in the position yet.
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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