A new high-leverage contract held by a whale on a certain chain has a floating loss of nearly $1.7 million across multiple cryptocurrencies.

【ChainNews】On-chain data shows that yesterday, a well-known trading institution “Strategy Counterparty” launched a wave of aggressive operations.

They opened a new 20x leveraged XRP long position. Currently, the overall position of this strategy is underwater—unrealized loss of about $1.7 million. Specifically, this institution has heavily invested in multiple mainstream coins:

For Bitcoin, holding 1,699 BTC with 15x leverage, at a cost basis of $90,801 per BTC, now nearly $300,000 in loss. Ethereum is even worse, with 33,063 ETH at 15x leverage, entry at $3,099, with a deeper decline, unrealized loss of over $340,000.

The SOL position is the most aggressive—20x leverage, 336,109 tokens, average price $138, now the largest source of loss, with an unrealized loss of over $870,000. As for the new XRP position, although it is the main trigger for this wave of action, with a massive holding of 3,777,318 tokens, it also contributes over $160,000 in losses.

This operation seems to be betting on the market continuing to rise, but the current price trend appears to have slightly outpaced this institution’s judgment. How the next trend unfolds depends on whether this team still has the stamina to keep chasing.