In the fast-paced world of crypto trading, big players—often called whales—can make waves with their moves. A recent tweet from Onchain Lens highlights one such whale who's capitalizing on the upward momentum of $MON, a token associated with the high-performance blockchain Monad.

The whale opened a long position on $MON with 3x leverage in the last 24 hours, and it's already showing a floating profit exceeding $2 million. For those new to the term, a long position means betting that the asset's price will rise, and leverage amplifies both gains and risks by borrowing funds to increase the trade size.

Looking at the details from the shared screenshot on Hyperbot, the whale's $MON position is valued at around $6.84 million, with an entry average price of about $0.0288 and the current mark price at $0.0418. That's a solid 93.48% unrealized profit, translating to over $2.13 million in gains so far.

But that's not all—this trader isn't putting all their eggs in one basket. They also hold long positions with 3x leverage on $HYPE, a meme token designed to capture hype in the crypto community, and $ZEC, the privacy-focused cryptocurrency Zcash. The $HYPE position sits at about $1.53 million with a slight loss of -6.12%, while $ZEC is at $1.47 million, down -6.15%. Overall, the portfolio's total value is nearly $9.84 million, with a cumulative unrealized PnL of over $2.07 million.

Hyperliquid, the platform where this action is happening, is a decentralized exchange specializing in perpetual futures (perps), allowing traders to use leverage without expiration dates. It's gained popularity for its speed and low fees, making it a go-to for advanced traders chasing volatile assets like meme coins.

Why does this matter for meme token enthusiasts? Moves like this can signal confidence in certain tokens. $MON, tied to Monad—a blockchain boasting 10,000 transactions per second—has been buzzing with its recent mainnet launch and potential for massive scalability. Meanwhile, $HYPE embodies the fun, speculative side of memes, where community hype can drive prices skyward overnight.

If you're into meme trading, keeping an eye on whale activities via tools like Onchain Lens or Hyperbot can provide valuable insights. Remember, though, leveraged trading is high-risk—profits can turn to losses just as quickly in crypto's volatile markets.

For more on tracking whales and meme token trends, check out resources like CoinGecko or CoinMarketCap. Stay informed and trade smart!