Donald Trump Just Blew the Massive Cryptocurrency Whale Big Time: He Was 20x Shorting One of the Altcoins in the New Reserve
After US President Donald Trump announced on his social media platform Truth Social that he would establish a US Strategic Cryptocurrency Reserve consisting of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP and Cardano (ADA), a crypto whale was left in a big mess, according to onchain data.
According to onchain data provided by Lookonchain, a crypto whale with a 20x short position on XRP appears to have panicked about closing his position following Donald Trump’s statement.
According to the latest data, the crypto whale added $8 million worth of USDC to his position in order to prevent liquidation.
Currently, the crypto whale's short XRP position has suffered a loss of $4.6 million.
When the data is examined, the whale wallet has $ 16 million in futures and $ 5 million in the spot market. According to the latest information, the whale has long positions in ETH, SOL and BTC, while it has short positions in XRP, SUI, DOGE, ADA and HYPE. You can access all of the whale's positions here.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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