W is up 66%; early longs are starting to take profits
An address opened a W position on September 29, then suddenly added 10.45 million tokens to its long on the evening of October 10. The price took off the following evening. It still holds 63.4 million tokens at 5x leverage, with an entry price of 0.0145, unrealized gains of 937,000, and a 509% return.
Over the past hour, it reduced its position by 3.27 million tokens, realizing 42,800 in profit. Two other early longs still hold over 100 million tokens combined, with 1.7 million in unrealized gains. Futures trading volume of 24.32 million is up against open interest of 31.08 million, so leverage isn’t particularly crowded.
At 0.029, would you chase the long or wait for a pullback to 0.02 to buy?
$W $ETH $SOL #Wormhole #Cross-chain
An address opened a W position on September 29, then suddenly added 10.45 million tokens to its long on the evening of October 10. The price took off the following evening. It still holds 63.4 million tokens at 5x leverage, with an entry price of 0.0145, unrealized gains of 937,000, and a 509% return.
Over the past hour, it reduced its position by 3.27 million tokens, realizing 42,800 in profit. Two other early longs still hold over 100 million tokens combined, with 1.7 million in unrealized gains. Futures trading volume of 24.32 million is up against open interest of 31.08 million, so leverage isn’t particularly crowded.
At 0.029, would you chase the long or wait for a pullback to 0.02 to buy?
$W $ETH $SOL #Wormhole #Cross-chain