TechFlow reported on June 16 that on-chain analyst Onchain Lens (@OnchainLens) monitored activity from a whale address identified as 0x3E7. The address had previously created a new wallet and deposited $1.7 million in USDC into HyperLiquid. It then opened a leveraged long position in SPCX using 10x leverage, with an initial size of 49,687 SPCX. At the time of the monitoring report, that position was valued at around $8.5 million.
After the price of SPCX broke above $210, the same address continued to add to its SPCX long position. According to the monitoring data, the position size increased from 49,687 SPCX to 63,458 SPCX, while the position direction remained long and the leverage level remained 10x.
Based on the figures disclosed by Onchain Lens, the address currently has more than $2.1 million in floating profit. The activity took place on HyperLiquid and included the creation of a new wallet, a USDC deposit, the opening of a leveraged long position, and subsequent additions to the SPCX position.