XPL Whale Buys 36.2M Spot, Rebalances Leveraged Longs
On September 28, an XPL whale boosted a 5× leveraged long by acquiring 13.8 million XPL tokens at $1.55, which climbed to $1.64, netting an unrealized $1.178 million profit and valuing the position at $22.62 million. On October 1, the same (or another) XPL whale accumulated 36.23 million XPL spot tokens worth $37.69 million—now showing a $197,000 unrealized loss—while liquidating 2× leveraged longs and opening $680,000 in new 3× leveraged positions, which are being gradually reduced. This sequence highlights significant XPL whale activity with spot accumulation and leverage rebalancing amid market volatility. Traders should monitor XPL whale movements, price trends and liquidity to assess short-term momentum and manage risk.
Bullish
In the short term, heavy spot accumulation by an XPL whale tightens supply and can spur buying pressure, while profitable levered positions signal bullish sentiment. Gradual reduction of leverage reflects risk management, potentially dampening extreme volatility. Over the long term, sustained whale accumulation supports price floor formation. Together, these factors point to a bullish outlook for XPL.