Loracle holds a SNDK 10 x leveraged short position, with an unrealized loss of approximately 3700000 USD
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Loracle holds a SNDK 10x leveraged short position, with a current unrealized loss of approximately 3700000 USD。
Article
🔍 On-chain Detective | Trader Loracle uses 10 x leverage to short SanDisk, with an unrealized loss of approximately 3700000 USD BlockBeats news:October 4, according to TradingBeats monitoring, the Loracle address (starting with 0xefe4) currently holds approximately 15800 shares of SNDK short positions, with 10 x leverage and an average entry price of approximately 1485.67 USD. The current position value is approximately 27200000 USD, with an unrealized loss of approximately 3700000 USD and a position return of approximately -135%.
The address August successively increased its short position in SNDK in mid-month, with the short position at one point rising to approximately 17200 shares. As SNDK surged in late September, the intraday unrealized loss on its short position once widened to approximately 6700000 USD, before narrowing somewhat as the share price declined.
According to BIT(bit.com) market data, as of the latest close,SNDK was quoted at approximately 1717 USD, up approximately 15.6%from the address's average entry price.
Original link https://m.theblockbeats.info/flash/370243
Key points
01
TradingBeats monitoring shows that the Loracle address (starting with 0xefe4) holds approximately 15800 shares of SNDK short positions.
02
The position uses 10 x leverage, with an average entry price of approximately 1485.67 USD and a current position value of approximately 27200000 USD。
03
The position has an unrealized loss of approximately 3700000 USD and a position return of approximately -135%。
04
The address August successively increased its short position in SNDK in mid-month, with the short position at one point rising to approximately 17200 shares.
05
SNDK When September surged in late 6700000 USD, the intraday unrealized loss on the short position once widened to approximately
06
According to BIT(bit.com) market data, as of the latest close,SNDK was quoted at approximately 1717 USD, up approximately 15.6%。
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Shorting is a bet that the price will decline; if the price rises, the short position incurs losses. The article states that the address used 10 x leverage to short SNDK, and is currently at a substantial unrealized loss.
Why it matters to readers
This is a risk case involving a highly leveraged short position; if SNDK continues to rise, the unrealized loss described in the article may increase.
High leverage magnifies position gains and losses. When the price moves against the short direction, losses may increase rapidly.
Risks and unknowns
The report did not independently verify whether the 0xefe4-starting address belongs to Loracle.
The position, leverage, and profit-and-loss figures in the article are derived from monitoring and market data and may be subject to revision.
It has not been confirmed whether the address has reduced or closed the position, or been liquidated.
There is no evidence that this single account will affect the overall market price or trading activity of SNDK.
Related Developments
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Related concepts
Short Selling
A trader establishes a corresponding-direction contract position in anticipation of the underlying asset’s price falling.
