Solana Whale Places $23 Million Bet with 20x Leverage
A massive leveraged position on Solana (SOL) has been spotted in the market. The anonymous whale deposited USDC into a perpetual futures platform and placed a long order targeting 500,000 SOL, which carries an estimated notional value near $23 million based on SOL's price when the trade was made.
The position is about 40% filled with approximately 200,000 SOL already executed. With 20x leverage, a 5% price decline would be enough to wipe out the entire position through automatic liquidation. This isn't the first time a massive leveraged position on SOL has turned heads.
The trader behind this position either has additional capital ready to add margin if the trade moves against them or they're comfortable with the binary outcome: significant profit or total loss on the position.