SPCX Jumps 9.5% From Lows as Whale Builds $27.4M Long

ChainCatcher reports that, per TradingBeats (formerly Hyperinsight), SPCX extended its rebound on Tuesday, last trading at $114.69. The token is up 5.5% over the past 24 hours and 9.5% off its recent low. Since yesterday, seven seven-figure wallets have opened long positions in SPCX. Together, they hold 238,800 tokens worth about $27.386 million, with a weighted average entry near $112. Their combined unrealized profit stands at roughly $636,000. The largest position belongs to the wallet beginning with 0xb37. The whale started accumulating early today via 83 trades, buying 147,500 SPCX for about $16.958 million at a weighted average price of $114.96. That wallet's current long position is around $16.918 million with 20x leverage and is its only open position. At the time of writing, the position shows an unrealized loss of about $40,000 (5.1%) and represents 61.8% of the seven wallets' total long exposure. Its liquidation price is $105.43, about 8.1% below the current price and close to last night's low near $105. A pullback to that level would make this wallet the first to face liquidation risk. On-chain data shows the address received 1.449 million USDC early yesterday and began building the SPCX long roughly 20 hours later. During today's early accumulation, the funding address sent an additional 350,000 USDC, bringing the two recent transfers to about $1.799 million. The address first received about 1 million USDC on July 10 and began trading afterward. Since then, it has traded 21 assets across semiconductors, U.S. equity indices, crude oil and cryptocurrencies, generating realized profits of around $572,000.