One whale, using 20x leverage, went long on SOL and suffered a paper loss of $5.78 million, while another whale, using 20x leverage, went short on SOL and made a profit of $11 million.

According to Onchain Lens monitoring, as the price of SOL fell below $121, whale 0x0e4 faced a loss of $5.78 million on its long position in SOL (20x leverage), while its long positions in BTC (20x leverage) and HYPE (10x leverage) suffered a combined loss of approximately $8.5 million, reducing its total profit from over $18 million to $3 million.

Meanwhile, the whale 0x35d has made a profit of approximately $11 million on its short position in SOL (20x leverage) and is currently slowly closing out the position.