On Aug. 11, on-chain tracking platform TradingBeats (formerly Hyperinsight) reported that the whale behind a 0xc8b-prefixed address has not stopped out of its heavy long positions in LITE and MRVL opened in pre-market trading the previous day. After 18:00 yesterday, the address continued opening new LITE longs, adding roughly $11.668 million in transaction value without any closing trades. The whale now holds about 16,800 LITE contracts on 3x isolated leverage, worth about $13.669 million at an average entry of $904.2, for an unrealized loss of about $1.49 million (return: -29.5%). The same address also holds about 49,300 MRVL long contracts, worth about $10.286 million at an average entry of $222.3, down about $667,000 (-18.3%), with no changes to that position since yesterday. Combined, the two tech-equity positions are worth about $23.955 million, with total unrealized losses of about $2.157 million. The whale added the new LITE position after the asset pulled back, but price has not staged an effective rebound, leaving the additional longs underwater again. An earlier tracker flash also noted that Nasdaq 100 open interest increased by $41 million, while MRVL and LITE had surged 64% and 151%, respectively.
New data from TradingBeats (formerly Hyperinsight) shows that the whale wallet beginning with 0xc8b has not stopped out of the heavy LITE and MRVL long positions it opened in pre-market trading yesterday.
After 18:00 yesterday, the same address kept adding to its LITE book, with roughly $11.668 million in new transaction value and no long-closing trades during the period.
LITE pile: 3x isolated long, about $1.49 million underwater
The whale is now long around 16,800 LITE contracts on 3x isolated margin. The position is worth approximately $13.669 million, with an average entry of $904.2. Unrealized loss stands at roughly $1.49 million, translating to a return of -29.5%.
MRVL position left untouched
Separately, the address still holds about 49,300 MRVL long contracts, worth around $10.286 million. Average entry is $222.3, and the position is down roughly $667,000, or -18.3%. Since yesterday, the whale has neither added nor reduced this position.
Combined paper loss: about $2.157 million
Taken together, the two tech-equity long positions are worth around $23.955 million, with combined unrealized losses of roughly $2.157 million.
The whale scaled up its LITE long after LITE pulled back yesterday, but price has yet to mount an effective rebound. The newly added positions are once again underwater.
An earlier whale tracker flash also showed that Nasdaq 100 open interest increased by $41 million, while MRVL and LITE rose 64% and 151%, respectively.
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