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Details: ht
A large Whale has increased its holdings of XPL and is shorting XPL with 2x leverage, possibly as a hedging strategy for Spot operations.
On September 27, according to @EmberCN monitoring, a Whale spent 33 million USDC to purchase 24.295 million XPL today, and has now transferred 7 million USDC to the contract account, starting to Short XPL with 2x leverage. Currently, they have Shorted 1.54 million XPL and may be hedging their Spot Position.