A high-stakes waiting game now, and the margin for error is shrinking. This is what we say a REAL LONG HOLDER.
As we posted in our previous quoted post, about pending orders in SOL, prices slid, the 2,683.68 SOL that had been patiently waiting on the bid were fully filled now.

That brings the whale’s total $SOL position to 511,612.85 SOL, now worth roughly $62.4 million. The average entry for the entire SOL stack sits at $130.19, while price has slipped back to around $122, pushing the floating loss on SOL alone to more than $4.19 million.

When Losses Don’t Slow You Down: A $25M SOL Add in the Dead of Night.
This guy didn’t return to the market cautiously, it came back decisively. Late at night, after nearly a week of relative inactivity, the wallet aggressively increased its $SOL long position, adding 207,316.32 SOL worth roughly $25.5 million. At the same time, it slowly placed 2,683.68 SOL in limit buy orders pending between $122.74 and $123.01.

The account is running purely long exposure, with no short positions, carrying a total position value of about $752.9 million. Despite the size, performance has been under pressure, with ROE at -31.12% and a floating loss of roughly $44.9 million. The losses are not evenly distributed, the majority are coming from Ethereum.

The ETH long, running at 5x cross leverage, is the dominant position, valued at approximately $601.5 million and totaling 203,340 ETH. The average entry sits at $3,147.39, while the mark price is around $2,958.30, leaving the position down about $38.45 million with a liquidation price near $2,134.55.

Bitcoin exposure is far smaller but still significant: 1,000 BTC long at 5x, worth $88.33 million, entered at $91,506.70 and currently down roughly $3.18 million with BTC trading near $88,330.

Against this backdrop, the renewed aggression in #sol is telling. The SOL position, leveraged at 10x cross, now totals roughly 508,929 SOL, valued near $63 million. With an average entry of $130.23 and price hovering around $123.80, the position shows a floating loss of about $3.27 million, translating to an ROE near -52%. Yet instead of reducing risk, the whale chose to add size precisely here.

In short, while Ethereum accounts for the bulk of the drawdown, the trader’s latest action reveals where conviction currently lies. Increasing a high-leverage #solana position while sitting on a cumulative $45M unrealized loss is not defensive positioning, it’s a deliberate bet that this leg of the portfolio turns first.

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