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Founder of the Equation: Closed Position XPL long order, reduced position of SOL long order by half
On October 12, Vida, the founder of Equation News, posted on his personal channel that "I have closed the long order for XPL and reduced my long order for SOL by half, only to profit from the rebound after last night's second dip. I don't want uncertain trades in this pattern. In the current market environment, I prefer to hold the $10 million FDV contract meme I bought yesterday for the long term, as it has a clear bottom value to resist falling, while large coins lack clear bottom support." Previously reported, Vida stated on his personal channel this morning that "I went long again with $4 million in SOL at an average price of $175.8; and $500,000 in XPL at an average price of $0.395. This is equivalent to 1/10 of my ammo. This position has no certainty at all; it's just a gamble. My bet is that the market will quickly recover after the U.S. stock market opens on Monday, just like every unfavorable information that has occurred over the weekends before. The crypto market has now averaged a 30% fall, pricing in a bizarre drop of 5% for the S&P 500 when it opens on Monday. However, if the S&P 500 doesn't drop as much as imagined on Monday, then the sentiment will quickly recover."