Trader’s 5.76 Million NEAR Long Shows More Than $20 Million in Gains

A trader identified as mk4 is holding a long position in 5.76 million NEAR tokens that has generated more than $20 million in unrealized gains, highlighting the scale of the recent move in the cryptocurrency.

NEAR reached a new yearly high as the position’s gains surpassed the $20 million mark. A long position benefits when the underlying asset rises, while “unrealized” gains represent profits that have not been locked in through a sale or position close.

The position gives the trader substantial exposure to NEAR’s price movements. Its final profit or loss will depend on the token’s price when the trade is reduced or closed.