🐳 Decentralized derivatives #platform Lighter reported that a recent whale attempt to squeeze $ARC longs failed. The trader built a significant long position relative to market size, with around 600 other traders and market makers opposing them, pushing open interest to $50 million USDC. The whale ultimately lost about $8.2 million USDC, while LLP losses were #limited to around $75,000 USDC, and short-side traders who took risk made profits. #crypto
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🐳 Decentralized derivatives #platform Lighter reported that a recent whale attempt to squeeze $ARC longs failed. The trader built a significant long position relative to market size, with around 600 other traders and market makers opposing them, pushing open interest to $50 million USDC. The whale ultimately lost about $8.2 million USDC, while LLP losses were #limited to around $75,000 USDC, and short-side traders who took risk made profits. #crypto