Summary
- A large investor known as an ultra-long-term Bitcoin (BTC) holder reportedly recently built an additional Solana (SOL) long position.
- The investor currently holds leveraged positions in Bitcoin, Ethereum, and Solana, and is said to have approximately $43 million in unrealized losses across its total derivative positions.
- The market is said to be focusing on the potential impact of the large long-term investor's high leverage and increased Solana exposure on future price direction.
A large investor known as an ultra-long-term Bitcoin (BTC) holder appears to have further increased its long position in Solana (SOL).
On the 25th (local time), on-chain analytics firm Lookonchain reported that the so-called 'Bitcoin OG' address (1011short) recently built an additional long position of 207,351 SOL.
The address currently holds a 5x long position on 203,341 Ethereum (ETH), a 5x long position on 1,000 Bitcoin (BTC), and a 10x long position on 508,929 Solana (SOL).
Lookonchain explained that the address has approximately $43 million in unrealized losses across its total derivative positions.
The market is paying attention to the fact that a large long-term investor is maintaining and expanding major cryptocurrency long positions using high leverage. In particular, there is ongoing interest in how the continued increase in Solana exposure is related to judgments about future price direction.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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