Odaily reported, citing monitoring from Onchain Lens, that a whale account has opened a leveraged long position in SPCX. The account is 5x long 54,986 SPCX, with the position valued at $9.09 million. A leveraged long position represents exposure in the upward price direction, with leverage increasing the notional size of the trade relative to the margin used.
The same whale also holds a short position of 320.74 BTC. According to the monitored data, this BTC short uses 25x leverage and has a position value of $20.4 million. Unlike the SPCX long position, the BTC short is exposure in the downward direction. The account therefore holds leveraged positions across two different assets and in two different trading directions.
Onchain Lens data shows that the whale currently has more than $1.18 million in unrealized profit. Unrealized profit refers to paper profit on positions that remain open and can change as asset prices and position values move. The disclosed monitoring information covers the size, leverage, position value and current unrealized profit of the SPCX long and BTC short positions.