Aave (AAVE) Long Shows About $2 Million in Unrealized Profit

A Hyperliquid address beginning with 0x08c1 currently holds about 21,800 Aave (AAVE) long contracts with 10x leverage and roughly $2 million in unrealized profit.

The position’s average entry price is about $80.89. AAVE was trading at about $172.54 on Sept. 29, while the average price for the address’s early-June additions was about $64.77.

The address continued adding to the position at lower levels and during AAVE’s advance, raising the position’s overall cost basis. The address currently holds the position, so the reported gain has not been realized.

Hyperliquid is a crypto derivatives platform where traders can take leveraged positions. In this case, the 10x leverage means the position’s market exposure is larger than the margin committed to it, increasing the size of both potential gains and losses.

The address currently holds the position.