The XPL whale, after a massive accumulation, is shorting XPL with 2x leverage, possibly as a hedge against spot positions.
BlockBeats News, September 27, according to monitoring by @EmberCN, the whale who spent 33 million USDC today to purchase 24.295 million XPL has now transferred 7 million USDC to a contract account and has started shorting XPL with 2x leverage. Currently, 1.54 million XPL have been shorted, which may serve as a hedge for their spot position.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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