As MAGMA surged more than 70% intraday, the total unrealized profit on long positions opened by two wallets on Aster DEX reached $340,000.
According to a post by Lookonchain dated October 22, two wallets opened 2x leveraged long positions in anticipation of a rise in MAGMA’s price. The positions, totaling 1.5 million MAGMA, were valued at approximately $775,000 in the post.
Returns on MAGMA positions reached up to 106%
As the token surged sharply intraday, the total profit on the open positions reached $340,000. The highest reported return was approximately 106%.
This figure was reported as the highest return reached on the positions, not as the combined return for the two wallets. Since the trades have not yet been closed, the $340,000 represents unrealized profit calculated using prices at that time, not gains converted to cash.
Not investment advice.