On-chain Gold's Biggest Short Squeeze: "On-chain Stock Trader" Gold Bear Turned Loss into Gain, Monthly Profit Reached $15.4 Million

BlockBeats News, February 17th, according to Coinbob Popular Address Monitor data, the largest on-chain gold bear whale, known as "On-chain Stockholder" (0xfc66...), has recently adjusted its position by closing out approximately $17 million worth of short positions related to the U.S. stock storage sector, while continuing to increase its gold-related short positions. Currently, its total short position in PAXG and xyz.GOLD has reached $44 million.

Due to today's brief dip in spot gold below $1900 per ounce, the whale's gold short position has fully turned from unrealized losses to profits. By deploying stock, precious metal shorts, and cryptocurrency swing trading, this whale has accumulated a total profit of $15.4 million this month. Its current main positions are as follows:

5x PAXG (On-chain Gold) shorts: Position size of approximately $28.16 million, average price of $4979, unrealized gain of approximately $320,000;

6x Long XYZ100 positions: Position size of approximately $19.3 million, average price of $24567, unrealized loss of approximately $40,000;

5x GOLD (Gold Mapping Contract) shorts: Position size of approximately $16.4 million, average price of $4920, unrealized gain of approximately $670;

20x Long SOL positions: Position size of approximately $14 million, average price of $84.3, unrealized gain of approximately $100,000;

It is reported that this address has been focusing on on-chain contract operations of crypto assets, steadily reducing high-leverage ETH, BTC, and SOL short positions since January 8th. Instead, it has gradually increased its on-chain stock positions, with its on-chain stock position increasing by nearly $80 million in January alone, bringing the total position size to $117 million.