"On-chain stock investors" have a short position of $40 million related to gold, and they continue to profit from shorting ETH relative to SOL exchange rates.

PAXG-0,44%
ETH3,88%
SOL4,3%
BTC2,63%

BlockBeats News, February 11 — According to Coinbob’s popular address monitoring, the on-chain largest bearish whale “On-Chain Stock Investor” (0xfc66…) has recently taken short positions in various on-chain stocks and commodities worth approximately $80 million, and an additional approximately $40 million in cryptocurrencies such as ETH and SOL. Currently, 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 positions in PAXG (on-chain gold), with holdings rising from $24.9 million to $30.3 million; its short position in GOLD (gold mapping contract) remains around $10.5 million. Notably, the whale has also established a total short position of approximately $36 million in the ETH/SOL exchange rate by shorting ETH and going long on SOL simultaneously. This position has now generated significant unrealized gains. Its current main holdings are as follows:

5x PAXG (on-chain gold): approximately $30.3 million, average price $4,974, unrealized loss about $520,000;

20x ETH: approximately $18.8 million, average price $2,043, unrealized profit about $270,000;

20x SOL: approximately $18 million, average price $80.6, unrealized profit about $610,000;

5x GOLD (gold mapping contract): approximately $10.5 million, average price $4,858, unrealized loss about $410,000;

It is reported that this address has previously focused on on-chain derivatives trading of crypto assets, and since January 8 this year, has been continuously reducing high-leverage short positions in ETH, BTC, and SOL; gradually increasing its holdings in on-chain stocks, with its on-chain stock positions accumulating nearly $80 million in January, and recently reallocating some funds back into the crypto market.

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