1 cryptocurrency whale has opened a long position on YZY with 3x leverage, currently holding a profit of 2.12 million USD.
According to monitoring data from Onchain Lens, this leveraged investment demonstrates the strong position of large investors in the YZY market.
MAIN CONTENT
Large investors use 3x leverage to buy YZY.
Current floating profit is 2.12 million USD.
Data recorded from Onchain Lens monitoring.
What is a whale and why do they use leverage when trading YZY?
A whale is a term for large investors who have a high influence in the cryptocurrency market. Using 3x leverage helps them amplify potential profits when betting on YZY.
Leverage creates opportunities for increased profits but also carries significant risks if the market moves against you. Therefore, whales often apply this strategy based on in-depth analysis, leveraging experience to maximize investment efficiency in a volatile market.
How reliable is the data on whale positions provided by Onchain Lens?
Onchain Lens is a reputable source for monitoring on-chain blockchain transactions, providing transparent and accurate information about large trades.
This data source helps analyze the cryptocurrency market trends in real-time. The record of a whale opening a 3x leveraged position and a floating profit of 2.12 million USD shows the significant influence of whales in the digital asset market.
How does a whale's large floating profit affect market psychology and trends?
When a whale achieves substantial profits, it creates a positive effect, enhancing retail investors' confidence in that asset like YZY.
This effect often stimulates price increases due to an influx of capital entering the market and a rapid increase in trading volume. Conversely, if a whale sells off, the market may experience strong volatility and sudden price drops.
Frequently Asked Questions
Who are whales in the cryptocurrency market?
A whale is a large investor holding enough assets to significantly impact market prices and liquidity.
What does 3x leverage mean?
3x leverage allows investors to trade with three times their actual capital, increasing potential profits and risks.
Is Onchain Lens a reliable data source?
Onchain Lens is highly regarded for its accuracy and transparency, specializing in monitoring blockchain transactions.
What does floating profit mean when investing in cryptocurrencies?
Floating profit is the unrealized profit on held assets, reflecting market price fluctuations.
How do whales affect the price trend of YZY?
Whales can drive or undermine prices due to their significant financial power and influence on investor psychology.
Source: https://tintucbitcoin.com/ca-map-lai-21-trieu-usd-yzy/
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