Whale Opens 20x Leveraged Long on 100,000 SOL
Ethereum (ETH)
Editor:
Eugene Serbin
Lookonchain.com reports that trader 0xedcd has opened a new leveraged position on Solana. The trader previously went long on 20,000 ETH worth approximately $49.9 million ahead of a market rally. That earlier position generated over $11 million in profits for the trader.
Now, 0xedcd has opened a 20x leveraged long position on 100,000 SOL. The new position is valued at roughly $10.45 million. This move signals continued confidence from a trader who has recently secured significant gains.
The focus has shifted from Ethereum profits to a large-scale Solana bet. The leverage ratio of 20x indicates a high-conviction view on SOL's price direction. The total exposure represents a substantial amount of capital for a single directional trade.
How the market reacted
Whalio's own Binance spot order flow for ETH, measured when this story was written up on 27 August 2026. Not the outlet's figures.
ETH is trading at $2,506.78 with a 1-hour buy ratio of 64.0%, indicating strong immediate buying pressure. However, the 4-hour buy ratio drops to 41.5%, suggesting that this short-term surge is fading over a slightly longer timeframe. The 24-hour buy ratio sits at 51.2%, showing a balanced but slightly positive sentiment over the full day. Volume delta is positive at +$6,972,629 for the hour, reflecting active buying, but turns negative at -$28,835,388 for the 4-hour period. This divergence suggests that while buyers are active now, selling pressure has dominated the recent multi-hour window. The 24-hour volume delta remains positive at +$14,758,006, confirming net buying over the full day despite the recent dip.
The latest daily buy ratio of 46.8% sits at the 16th percentile of the last 322 days, against a median of 49.5% - weaker buying than most days.
Twenty-four hours later
What ETH did over the 24 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for ETH, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 51.4%, making today's 1-hour reading of 64.0% an unusually high spike in buying interest. The 24-hour volume delta of +$14,758,006 contributes to a total 8-day volume delta of +$343,346,378. Volume relative to the weekly average is 0.48x, indicating that trading activity is currently below the typical weekly pace. The price has risen 11.3% over the eight-day period, with net buying occurring on 6 of the last 7 days. This recent week shows consistent upward momentum, though today's volume is notably lower than the weekly average.