According to on-chain data monitored by Onchain Lens, a newly created wallet “0x58f” deposited 1.995 million USDC into the decentralized derivatives platform HyperLiquid, then opened a long position on GOLD with 5x leverage, acquiring 2,327.39 contracts with a notional value of approximately $9.74 million. This large whale move signals a near-term bullish outlook on GOLD, and market participants will track the position for any adjustments or liquidations.
According to Onchain Lens monitoring, a newly created wallet address “0x58f” has deposited 1.995 million USDC into the decentralized derivatives platform HyperLiquid. The wallet subsequently opened a long position on GOLD with 5x leverage, acquiring 2,327.39 contracts with a total notional value of roughly $9.74 million. This substantial transaction indicates whale-level conviction in the GOLD market, betting on price appreciation. The use of leverage amplifies both potential gains and risks. Market participants will be closely watching this position for any subsequent adjustments or liquidations.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
