Whale Opens $38M 20x Short Position on Solana Amid Market Weakness

A major crypto trader identified as “0x9137” has placed a strongly bearish bet on Solana through a high-leverage trade.

The position was opened about an hour ago, involving a 20x short on 554,680 SOL, valued at approximately $38.15 million. The entry price was set at $69.23, while the liquidation level stands at $84.88.

This move comes as Solana’s price continues to weaken. At the time of reporting, SOL is trading around $68.86, reflecting a decline of roughly 6.6% over the past 24 hours.

Source: Lookonchain