SKHX rebounded around midday on Aug. 25, rising about 4.6% in two hours, according to BlockBeats. Before the move, the wallet labeled as storage smart money, 0xc8b, was still flat and had placed 100 buy orders between $1,030 and $1,060, with roughly $20.9 million set aside for a pullback entry. Once the token began to rebound, the whale pulled those lower bids and switched tactics. After 11:00, it bought 35,600 SKHX directly, spending about $41.646 million at an average fill price of roughly $1,168.2. At press time, the address was holding a roughly $43.014 million long position at 3x full leverage, showing an unrealized profit of about $1.368 million, or 9.9%, with a liquidation price of $636.7. Two additional buy orders remained between $1,162.6 and $1,170, with another $2.074 million planned for deployment. BlockBeats also noted that the same whale closed a 26,600 SKHX long yesterday at an average price of about $1,210.9, locking in roughly $1.952 million in profit. Its current position size is about 34% larger than the previous round.
SKHX rebounded around midday on Aug. 25, gaining about 4.6% in two hours, according to BlockBeats.
Before the rebound, the wallet tagged as 「storage smart money」, 0xc8b, was still out of the market. It had placed 100 buy orders between $1,030 and $1,060, with about $20.9 million allocated for what it expected to be the next pullback.
Once SKHX started to bounce, the whale canceled those lower orders and changed course. After 11:00, it bought 35,600 SKHX directly, with total executed value at about $41.646 million and an average entry price of roughly $1,168.2.
At press time, the address was holding a long position worth about $43.014 million at 3x full leverage. The position was showing an unrealized gain of about $1.368 million, or 9.9%, with liquidation set at $636.7. It also kept two additional buy orders between $1,162.6 and $1,170, with another $2.074 million planned for deployment.
BlockBeats added that the same whale had just closed a 26,600 SKHX long yesterday at an average price of about $1,210.9, realizing roughly $1.952 million in profit. The position size in this new round is about 34% larger than the previous one.
An earlier update had said the SKHX smart-money trader exited after taking profit and planned to buy lower with $20.9 million in resting orders.
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.
