TREE NEWS reports: MAGMA rose more than 70% on October 22, with two traders opening 2x leveraged long positions on Aster DEX that together hold 1.5 million MAGMA, built at a value of about $775,000. The two positions now show combined unrealized profit of roughly $340,000, with a peak return of 105.84%.
MAGMA Jumps Over 70% as Two Traders Open 2x Leveraged Longs on Aster DEX
AI take
The move is being amplified by a very narrow base of positioning: two leveraged longs on a single DEX account for the visible profit story, which says more about thin liquidity and reflexive price action than about broad demand. That concentration cuts both ways — unrealized gains of this size can turn into forced exits if the price reverses. The open question is whether MAGMA's volume broadens beyond these two wallets or fades once the leveraged positions are closed, since a rally carried by a handful of 2x longs is fragile by construction.
Generated by AI for reference only.
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