BlockBeats News, February 24th, according to Coinbob Popular Address Monitor, on-chain data shows that the top 100 long whale (0x8af) of the Nasdaq 100 is holding on-chain US stocks, the crypto market, and precious metals. Currently, it is long more than $20 million in XYZ100 (Nasdaq 100 Index tracking contract) with an equivalent long position in BTC, and a $12 million short position in silver. Due to today’s pullback in the US stock market 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, and the floating losses of the three positions continue to expand.
Currently, the main losses of this address come from its 40x leveraged long position in BTC, with a position size of approximately $23.2 million, an average price of $100,800, and a floating loss of $13.8 million, with a loss percentage as high as 2376%. In addition, this address still has $14.25 million in open orders, planning to continue to long BTC in the $55,000 to $59,000 range.
This whale is bullish on core stock indices and BTC, among other mainstream assets, while using short positions on a dozen or so altcoins as hedges, with a strategy leaning towards betting on the relative strength of mainstream assets. Despite a recent misjudgment and drag from commodity-related holdings affecting overall returns, its total profit over the entire cycle still stands at $51 million.
