Circle's main bullish traders recently built positions at an average price of $87, capturing the second wave of its stock price increase.

BlockBeats News, March 5 — According to Coinbob’s popular address monitoring, a whale starting with 0xbcd currently holds a 10x leveraged long position in CRCL (Circle mapped contract), with a position size of $2.2 million and an average price of $87.1. This is the largest long position in CRCL on the Hyperliquid platform. The whale also holds a total of 13 other crypto and on-chain stock positions, with a combined value of $21.6 million.

This position was opened on February 27, during a retracement period after Circle on-chain stock prices surged from $62 to $90. The whale continued to build long positions within the $89 to $84 range.

According to Hyperliquid data, Circle on-chain stock prices surged again from around $80 on March 2, reaching a high of $106, currently reported at $105. After gradually building positions during the price fluctuations, the whale successfully captured the second upward wave, with unrealized gains of $370,000 (23%).

Additionally, in the past hour, a trader starting with address 0x467 entered the market at an average price of $104, opening a 10x leveraged long position in CRCL with a size of $1.14 million. The liquidation zone is very narrow, at $98.8.