Onchain Lens said a trader opened a new 15x long position in BRENTOIL after posting cumulative losses of about $2.49 million. The position was built after BRENTOIL rose more than 7.9%, with the trader taking on a position worth roughly $2.6 million. Account equity stood at about $568,900, while available margin was listed at zero. The update points to a highly leveraged directional bet made after a sharp move higher in BRENTOIL, according to the on-chain monitoring account cited by Odaily.
According to Odaily, citing Onchain Lens, a trader opened a new 15x long position in BRENTOIL after accumulating about $2.49 million in losses.
After BRENTOIL gained more than 7.9%, the trader built a position worth about $2.6 million. The account's equity was about $568,900, and available margin stood at zero.
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