According to on-chain analyst Ember (@EmberCN), Rune, co-founder of Sky, opened a long position in crude oil at approximately $93. Yesterday, as oil prices rose to $117, the position reached an unrealized profit of $2 million. With oil prices now retreating to $85, the long position has turned into an unrealized loss of $700,000. Additionally, Rune’s short positions in ETH and U.S. stock indices are currently underwater by $200,000.
Sky co-founder Rune's oil long position shifts from a $2 million profit to a $700,000 loss.
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Summary
Sky co-founder Rune’s ETH price exposure shifted from profit to loss as oil and crypto markets moved. His crude oil long, opened near $93, gained $2 million at $117 but now faces a $700,000 loss as prices dropped to $85. Rune’s short positions in ETH and U.S. stock indices also show a $200,000 floating loss. With volatility in altcoins to monitor, market participants remain cautious.
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