PANews, October 23: According to on-chain analyst Yujin, a wallet address opened long positions in SOXL twice within four hours last night to this morning, resulting in two liquidations. However, the address continued opening long positions despite the losses. At 11 p.m. last night, the address opened a long position worth $5.42 million in SOXL, which was liquidated less than a minute later, resulting in a loss of $316,000. At 1 a.m. today, the address opened another long position worth $4.97 million in SOXL, which was liquidated two hours later, resulting in a loss of $270,000. Just two minutes after the second liquidation, the address opened another long position worth $2.22 million in SOXL. The current position has not yet been liquidated.
Address experiences two liquidations within four hours while continuously taking long positions on SOXL.
PANewsShare
Summary
A single address experienced two liquidations within four hours while pursuing a long-term crypto strategy on SOXL. At 11 PM, it opened a $5.42 million long position, which was liquidated within a minute, resulting in a $316,000 loss. At 1 AM, it opened another $4.97 million long position, which was liquidated two hours later, causing a $2.7 million loss. Two minutes after the second liquidation, the address opened a new $2.22 million long position, which remains open. This repeated long-term investing approach has so far led to significant losses.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.