WTI Crude Oil Sees Brief 3% Surge: MakerDAO Founder's Long Position Profit Grows, On-chain Holdings of Whale Worth Millions Fully in Loss

BlockBeats News, March 17th, according to Hyperinsight monitoring, WTI crude oil futures surged more than 3% in a short period of time, with an intraday gain expanding to 5.5%. Hyperliquid also saw a synchronous rise in CL (WTI crude oil) prices, currently at $97.5.

This round of surge directly benefited on-chain long positions. MakerDAO founder Rune Christensen, who opened a 20x leveraged CL long position at an average price of $92.6 on March 7th, saw his unrealized gains expand to about $310,000 (+17.3%).

Furthermore, a whale with an on-chain position size exceeding tens of millions of dollars remained predominantly on the short side, and this sudden surge in crude oil caused the aforementioned short positions to collectively fall into unrealized losses.