Andrew Kang, one among the most successfully-identified traders in the cryptocurrency world, made a brand new switch in his nowadays opened Bitcoin lengthy quandary, in step with onchain recordsdata.
Kang opened a 40x lengthy quandary in Bitcoin price $100 million on April 9, following US President Donald Trump’s statement that it modified into once “a upright time to salvage.”
Bitcoin has since risen and is trading above $85,000 at the time of writing.
In this day’s switch, the provider doubled his quandary and now holds a $200 million BTC lengthy quandary with 40x leverage. Kang’s present quandary has a median entry level of $82,076 and an unrealized maintain of $7.7 million. Kang has paid $115,000 in funding bills up to now.
Kang shall be liquidated if the Bitcoin sign drops to $83,410.
Kang’s quandary at 0xBb876071A63Bc4D9bfCf46B012b4437Ea7Ff4281 can also simply additionally be tracked by this hyperlink.
On the opposite hand, when Kang’s other positions on the decentralized cryptocurrency alternate Hyperliquid are examined, it is miles considered that he has a immediate quandary in Ethereum price $6.7 million at 25x. Kang has lost $370,000 from this quandary up to now and paid a funding fee of $24.
The provider also has one other quandary in Ethena (ENA). Kang has a $5.5 million lengthy quandary in ENA at 10x and has made $118k in earnings up to now, paying $399 in funding bills.
Nonetheless, it is going to be compulsory to endure in mind that leveraged trading is terribly volatile, and when mixed with the high threat of cryptocurrencies, losses, collectively with the entire main, are inevitable.
*Here’s no longer investment advice.
