Formula Founder: Closed XPL Long Position, Halved SOL Long Position

BlockBeats News, October 12th, Formula News founder Vida announced on her personal channel that she has "closed XPL long position, reduced SOL long position by half, only to earn the rebound profit after last night's double bottom, not willing to engage in low certainty trades."

In the current market environment, she is more inclined to hold long-term the contract meme with a FDV of 10 million USD purchased yesterday, expecting to hold for several months without any hindrance, as it has a clear bottom value to withstand a drop, while major coins lack clear bottom support."

Previously, Vida announced this morning on her personal channel that she has "longed another 4 million USD worth of SOL at an average price of 175.8 USD; 500,000 USD worth of XPL at an average price of 0.395 USD. This position has no certainty at all, just gambling. My bet is: the market will quickly recover after the opening of the U.S. stock market on Monday, just like every negative news event that happened over the weekend before."

The crypto market has now dropped an average of 30%, pricing in a crazy 5% drop in the S&P 500 at Monday's open, but if the S&P 500 does not drop as much as expected on Monday, then sentiment will quickly recover."