A prominent trader has closed their leveraged position in the Nasdaq 100 index mapping contract, according to BlockBeats. The position, which was held at a 10x leverage, was closed yesterday at 14:00 UTC+8, just before U.S. pre-market trading began.
The position previously had a scale of $21.1 million, with an average price of $25,443.47, and had once shown a floating profit of $580,000. However, it was closed at a price of $25,291, resulting in the loss of all floating profits and an actual loss of approximately $300,000. Had the position not been closed in time, the trader could have faced losses exceeding $700,000 due to a further 1.75% decline in the Nasdaq index.
Additionally, the trader closed a leveraged position in copper futures mapping contracts, which had a scale of about $18 million and an average price of $5.94, realizing a profit of approximately $360,000.
Currently, the trader's total position size has decreased to around $4 million, with a weekly loss of $2.9 million. To mitigate risk, the trader now holds long positions only in Intel (xyz:INTC) and Micron (xyz:MU).
The trader, who focuses on U.S. stocks and on-chain precious metals, was previously the largest on-chain gold bull and had heavily invested in the Nasdaq index and copper prices with a $40 million scale.