Whale Liquidates SOL Short Position to Avoid Liquidity Risk

An influential cryptocurrency investor known as Yu Jin revealed that they recently liquidated a substantial short position in Solana (SOL) worth 115,000 SOL. As the liquidation price neared, the investor sold the SOL at $175 per SOL, generating sales totaling $20.13 million. However, this action resulted in a loss of $1.05 million, with an 86% loss rate. Had the position not been liquidated before reaching its liquidation point, it would have triggered a forced sale of the remaining SOL holdings.