Whale Adds $11.67M in LITE Longs as Combined Tech Position Loss Reaches $2.16M

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.