From profit to loss: A whale begins reducing 100 million SOPH position, price retraces 62% from high

Odaily News: SOPH surged yesterday before declining consecutively, hitting a low of $0.005145 this morning, a pullback of approximately 62.27% from yesterday's high of $0.013637.

A whale opened a long position on SOPH near the low yesterday. At 01:48 yesterday, SOPH touched a low of $0.004645; 17 minutes later, this address began going long, with the first trade executed at $0.004736, less than 2% above the low. Subsequently, the address added to its position in two concentrated rounds during the rally, ultimately expanding its long position to 157.92 million SOPH, with cumulative opening trade volume of approximately $1.0421 million and an average entry cost of approximately $0.006599.

SOPH then rallied, reaching $0.011467 at 13:30 yesterday, up approximately 147% from the early morning low; at 13:33, the address's floating profit reached approximately $740,700. Starting at 13:35 yesterday, SOPH fell from $0.011304 to $0.00936 within 5 minutes, a single 5-minute decline of 17.20%; subsequently, the price experienced another 12.52% drop in a single 5-minute period, continuing to decline to this morning's low. During this period, the address never closed its original long position.

At 08:57 today, the address initiated a 12-hour TWAP, planning to sell 100 million SOPH in batches. The first closing trade was executed at $0.00525, below the average cost of $0.006599. As of press time, the address has sold approximately 13.6017 million SOPH, realizing a trading loss of approximately $16,400; the remaining approximately 144.31 million SOPH long position is valued at approximately $769,900, with a floating loss of approximately $182,400.