Odaily Planet Daily reports, according to Onchain Lens monitoring, the whale address 0x97f, which held a 50x leveraged short position on HyperLiquid’s S&P 500 ($SP500), has fully closed its position. Data shows the trade ultimately generated a profit of over $1,565,000, marking the end of this address’s high-leverage bet on the S&P 500 market.
Whale Closes 50x Leveraged S&P 500 Short Position, Earns Over $1.56M
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Summary
A whale recently closed a 50x leveraged short position on the S&P 500 on HyperLiquid, securing over $1.565 million in profit. The trader, using address 0x97f, executed a precise position trading strategy amid market volatility. This move underscores the importance of proper position sizing in high-leverage scenarios. The address has since fully exited its S&P 500 exposure.
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