Wallet Builds $22.08 Million WTI Long During U.S.-Iran Talks

A wallet identified by the prefix 0x9e2c built a $22.08 million long position in West Texas Intermediate (WTI) crude as U.S.-Iran talks continued, creating a sizable leveraged oil position on-chain. The position was valued at about $21.40 million at the observation, leaving an unrealized loss of roughly $679,000. Its average entry price was $98.14. The $22.08 million figure describes the trade’s exposure, rather than the collateral committed to it. The trade used a 20x cross-margin setting. Measured against the account’s USDC collateral, its effective leverage was about 10.46x, with an estimated liquidation price of $88.23.