New Wallet Cuts Solana Short Position and Holds Large Long Position

A new wallet reduced a Solana short position from $3.8 million to 44,168 SOL, or about $300,000, closing most of the trade and booking a profit of $197,800. According to Odaily, the wallet's largest current position is a $3.25 million long with an unrealized loss of $123,000. HyperliquidNews monitored the wallet and said its first on-chain transaction was on June 5. It has deposited $30 million into HyperCore and has multiple buy orders below the current price to accumulate more Solana.