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- A $2M USDC long position on Solana was placed at $142.54 with 3x leverage, setting liquidation at $97.45.
- Solana traded at $141.79 with a recorded volume of $17.76 billion, reflecting significant market participation.
- The leveraged position increased market exposure, with price movements determining potential gains or liquidation risk.
A trader deposited $2 million in USDC on Hyperliquid and opened a leveraged long position on Solana. The trade, executed with 3x leverage, had an entry price of $142.54. The position's liquidation price was set at $97.45.
Leveraged Trade Details
According to Lookonchain post on X, the deposit was made two hours ago, indicating recent activity in the derivatives market. The trader utilized 3x leverage, increasing potential exposure while setting a liquidation threshold below the current market price.
With an entry at $142.54, the trade aimed to capitalize on market movements. The liquidation level at $97.45 indicated the price at which the position would automatically close if Solana’s value dropped. With $2 million deployed, the total market exposure reached a significantly higher amount due to leverage.
The liquidation price showed a calculated risk, as Solana’s price must decline by a considerable margin to trigger forced closure. The position remained active at the time of reporting, with market fluctuations determining potential outcomes.
Recent Market Activity
Solana’s price movement in the derivatives market has seen increased trading activity. The long position indicated an expectation of upward momentum. However, the risk of liquidation remained if market trends reversed. Hyperliquid’s platform facilitated the transaction, reflecting ongoing trading interest in Solana’s price movements.
Tracking SOL activity, Coinglass data indicates that SOL’s price gained $141.79 at the time of press, with a recorded trading volume of $17.76 billion. The movement shows price fluctuations over time, with notable peaks and declines.
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Market volume saw a surge, reflecting increased activity. The price recently moved around the $148.50 level, indicating dynamic trading conditions within the Solana market. Solana’s performance remains a key factor in determining the trade's outcome.
