"On-chain stockholders" have accumulated $40 million in short positions related to gold, and continue to profit from shorting the ETH/SOL exchange rate.
BlockBeats News, February 11, according to Coinbob Hot Address Monitor, the largest on-chain gold short whale "On-chain Stockholder" (0xfc66…) has recently held approximately $80 million in various on-chain stock and bulk commodity short positions, and has also deployed about $40 million in positions related to cryptocurrencies such as ETH and SOL. This address has realized a profit of about $12.7 million this month.
In the past few days, this address has continued to increase its short position in PAXG (on-chain gold), with the position size rising from $24.9 million to $30.3 million; its GOLD (gold-mapped contract) short position has also remained at about $10.5 million. Notably, this whale has also established a total position of approximately $36 million in the "ETH/SOL exchange rate" short by shorting ETH and simultaneously longing SOL, and this position has already generated significant unrealized profits. The current main positions are as follows:
5x PAXG (on-chain gold): position size about $30.3 million, average price $4,974, unrealized loss about $520,000;
20x ETH: position size about $18.8 million, average price $2,043, unrealized profit about $270,000;
20x SOL: position size about $18 million, average price $80.6, unrealized profit about $610,000;
5x GOLD (gold-mapped contract): position size about $10.5 million, average price $4,858, unrealized loss about $410,000;
It is reported that this address has previously focused on on-chain contract operations of crypto assets, and since January 8 of this year has continuously reduced high-leverage ETH, BTC, and SOL short positions; instead, it has gradually increased its positions in on-chain stocks, with its on-chain stock positions increasing by nearly $80 million in January, and recently some funds have returned to the crypto market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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