According to Mars Finance, on January 20th, HyperInsight monitoring showed that a whale address (0xbaa…), which was once the second-largest long position in PUMP and the largest long position in FARTCOIN, attempted to buy the dips yesterday with its remaining approximately $10,000 after experiencing continuous liquidations and huge losses. However, it soon closed its positions and exited the market, incurring losses of over $4 million in the past 7 days. This address suffered a severe blow on January 15th, with approximately $14.32 million of its PUMP long positions and approximately $11.16 million of its FARTCOIN long positions liquidated. Its total account assets plummeted from $4.1 million to less than $800,000, recording the largest single liquidation on the entire network. Subsequently, between January 16th and 19th, the address's positions underwent multiple rounds of liquidation, bringing its account funds close to zero, reaching a low of less than $20,000.
Major long positions in PUMP and FARTCOIN have been liquidated, with a total liquidation of $31.3 million in recent days.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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