On-chain data from a leading exchange shows that a whale account holding a $310 million long position has experienced unrealized losses. This address is simultaneously long on BTC, ETH, SOL, and XRP, and is currently facing a loss of $1.451 million.

Looking closely at the performance of each asset, the SOL long position is the most damaged — with an unrealized loss of $817,000 on a position valued at $46.43 million, making it the largest source of loss. Ironically, this whale was still adding to its SOL position just 2 hours ago, but the market then turned sharply downward.

Since the recent high last night, this whale's potential profit has retraced nearly $10 million, shifting from profit to loss. The market's volatility is evident.