BlockBeats News, April 21, according to Hyperinsight monitoring, in the past 16 hours, a Galaxy Digital affiliated address (0xcac) has continued to close out its ETH short positions, reducing its holdings by 905 coins, equivalent to approximately $2.09 million. Currently, there is still an unrealized gain of $2.6 million, with a total position size of $7.4 million.
Since March, the address has significantly reduced its position, continuously selling off BTC and ETH spot holdings while simultaneously closing out short positions. The total amount sold in spot holdings has reached $11 million, completing the liquidation; the short position size has also decreased from $35 million to the current $13.8 million. During this period, funding fee settlements have resulted in approximately $3.5 million in profit.
It is reported that this address has received multiple on-chain transfers from Galaxy Digital and has been actively engaged in a neutral arbitrage strategy on Hyperliquid. This strategy usually involves selling spot holdings and closing out short positions, or buying spot holdings and increasing short positions to maintain risk neutrality.
Address: 0xcac19662ec88d23fa1c81ac0e8570b0cf2ff26b3
