On-chain NASDAQ 100 largest long positions wrong on three markets: going long NASDAQ and BTC while shorting silver, with unrealized losses approaching $10 million

BlockBeats News, February 24 — According to Coinbob’s popular address monitoring, the on-chain largest long whale (0x8af) holds positions in US stocks, the crypto market, and precious metals. Currently, it is long over $20 million on XYZ100 (Nasdaq 100 index futures), long the same scale on BTC, and short $12 million on silver, making it the largest on-chain silver short. Due to the recent pullback in US stocks and the crypto market, along with silver maintaining high levels and slightly rising, this address experienced a double whammy of long and short losses, with three positions continuously increasing in unrealized losses.

Currently, the main loss for this address comes from its 40x leveraged BTC long position, with a position size of approximately $23.2 million, an average entry price of $10.08 million, and an unrealized loss of $13.8 million, representing a loss of 2,376%. Additionally, the address still has $14.25 million in pending orders, planning to add to its BTC long positions between $55,000 and $59,000.

This whale is long on core US stock indices and major assets like BTC, while also holding short positions in a dozen altcoins as hedges, with a strategy leaning towards betting on the relative strength of mainstream assets. Despite recent misjudgments and commodity-related holdings dragging down overall returns, its full-cycle profit remains at $51 million.