WTI crude oil surged to $80 and closed higher: the largest on-chain long position partially took profits, and a 14.17 million scale long position was built before yesterday's market open.

BlockBeats News, March 6 — According to Coinbob’s hot address monitoring, WTI crude oil briefly surged over $82 during trading, hitting a recent high, before closing at $79.4. The long and short battle on Hyperliquid’s CL (WTI crude oil mapping contract) continues.

The address starting with 0xf4b opened a 20x leveraged long position on CL before the US stock market opened yesterday, with the position peak reaching $14.17 million. Later this morning, after the oil price soared above $81, some positions were closed at an average price of about $81.2, realizing a profit of approximately $470,000.

It still holds a 20x leveraged long position on CL, with a current position size of $5.05 million and an unrealized profit of $150,000 (38%), at an average price of $76.9. It remains the largest on-chain long holder of CL.

Reportedly, this address has recently shorted CL (WTI crude oil) and EWY (Korean ETF) five times. After a quiet period in mid-February, it has become active again, with weekly profits reaching $1.51 million, and the current account balance rising to $1.95 million.