Whale Loses Significant Capital on Solana Short Position

A prominent cryptocurrency investor, known as a ‘whale,’ has incurred substantial losses due to a leveraged short position on Solana (SOL). According to data from BlockBeats and HyperInsight, the whale held a 20x leveraged short position on approximately 211,838.29 SOL tokens, with an estimated value of $41.05 million. The current unrealized loss stands at $750,000, stemming from a decline in SOL price from $190.19 per token to the liquidation threshold set at $239.18 per token.