Jeffrey Fan, a famous digital asset investor known as Taiwanese music celebrity and “Machi Big Brother,” faces floating losses of nearly $9 million on his high-fat account.
“0x020C,” an account associated with Huang, also a popular boring APE Yacht Club Collector, is approaching a floating loss of $9 million with distributed Exchange (DEX) lipids.
From a profit of around $44 million just 13 days ago, it sits at an unrealized loss of $8.7 million in a 5x leveraged long position, according to blockchain data from HyperDash. The location clearing threshold is $0.5366.
Despite the sharp decline, Huang holds trade and already costs more than $115,000 in funding fees. He also currently operates 15 times the funding fees worth $1.2 million with unrealized profits of approximately $534,000, with funding costs, with liquidation set at $3,836.
According to X Post’s blockchain data platform OnChain Lens on Wednesday, his account saw profits of over $44 million just 13 days ago, making the floating loss a “smash hit” for investors.
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Despite his losing position, Huang’s account is still profitable, with a total of over $101.6 million in losses (PNL).
A week after Huang ended his $25 million high lipid (Hype) position on September 29 with a loss of $4.45 million, Maelstrom, a family office fund for Bitmex co-founder Arthur Hayes, issued a warning about unlocking the upcoming hype token.
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Whale bets on price recovery for plasma tokens
Other whales, or large cryptocurrency investors, are also betting on the price recovery of their plasma tokens.
Whale Wallets have increased XPL token Holdings with 226 wallets over $1.16 million in net tokens over the past week, but over the same period, XPL tokens worth $3.83 million have left the exchange.
According to the X Post on Saturday of blockchain data platform LookonChain, whale wallet “0xD80D” also acquired a high-hydrated, $31 million worth of XPL tokens in high lipids and has acquired over $40.2 million in XPL holdings.
However, Plasma’s vesting schedule is set to unlock $90 million worth of XPL tokens on October 25th, threatening more sales pressure as unlocking the third largest token in a month, according to Cryptorank data.
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