NEAR Trader Nets $20 Million Shorting XRP, Bitcoin, Ether, SOL
MissedBlock Desk · · 1 min read
Updated
A Fortunate Bet on NEAR Yields Millions in Unrealized Profit
A trader on the Hyperliquid derivatives platform has amassed an estimated $20.55 million in unrealized profit from a substantial long position in the NEAR Protocol (NEAR) cryptocurrency. The trade, initiated in September with the purchase of 5.76 million NEAR tokens at an average price of $2.35, has seen its value surge dramatically.
A Diversified Portfolio
Intriguingly, the same account that holds this highly profitable NEAR long position is also simultaneously shorting seven of the market’s largest cryptocurrencies. This dual strategy suggests a sophisticated approach to market positioning, potentially hedging against broader market downturns while capitalizing on specific asset growth.
The significant NEAR trade was initially brought to light by on-chain analysts who observed the trader’s substantial long position in the token.