Whale's Bearish Bet on Gold and Silver Faces Over $2.3M Loss
On-chain data shows a whale entered short positions for GOLD and SILVER tokens 10 days ago with 4x and 3x leverage respectively. However, with the recent rebound in precious metal prices, the trader now faces floating losses of approximately $2.3 million.
The account holds approximately 5,283.85 GOLD tokens with a total position size of $28 million, and about 97,085.91 SILVER tokens valued at $9.23 million. Despite significant market volatility, the trader has not closed these positions yet, leaving them exposed to further price movements.
- Leveraged short positions trigger massive losses
- Trader maintains open positions amid market uncertainty
- $2.3 million floating loss signals caution for leveraged trading