The largest on-chain Nasdaq 100 long position made the wrong bet on three markets: going long on Nasdaq and BTC while shorting silver, with an unrealized loss of nearly 10 million USD.
BlockBeats News, on February 24, according to Coinbob Hot Address Monitoring, the largest long whale of the on-chain Nasdaq 100 (0x8af) holds positions in on-chain US stocks, the crypto market, and precious metals. Currently, this address is simultaneously long on XYZ100 (Nasdaq 100 index mapping contract) with over $20 million, long on BTC with the same scale, and short on silver with $12 million, making it the largest on-chain silver short. Due to today's simultaneous pullback in US stocks and the crypto market, while silver remains at a high level with a slight increase, this address has suffered losses on both long and short positions, with floating losses in all three positions continuing to expand.
Currently, the main loss for this address comes from its 40x leveraged BTC long position, with a position size of about $23.2 million and an average price of $100,800. The floating loss has reached $13.8 million, with a loss rate as high as 2376%. In addition, this address still has $14.25 million in pending orders, planning to continue buying BTC in the $55,000 to $59,000 range.
This whale is simultaneously long on core US stock indices and mainstream assets such as BTC, while hedging with short positions in more than a dozen altcoins, with a strategy biased toward betting on the relative strength of mainstream assets. Despite recent misjudgments and commodity-related positions dragging down overall returns, its full-cycle profit still remains at $51 million.
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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