"On-chain stock investors" liquidate Nasdaq short positions and use the funds to short gold, while also bottom-fishing the crypto market with $59 million

BlockBeats News, February 3, according to Coinbob Hot Address Monitor, the largest on-chain gold short whale "On-chain Stockholder" (0xfc66…) has concentrated $80 million in short positions across various commodities, with weekly profits reaching $9.4 million. In the past few days, this address has continuously closed and taken profits on on-chain US stock short positions, mainly focused on XYZ100 (Nasdaq 100 Index), reducing the related holdings from about $19.6 million to less than $300,000. Subsequently, the released funds were reallocated to increase short positions in precious metals, with the total scale of related short positions reaching $47 million. Among them, the largest short position is in PAXG (on-chain gold), amounting to $24.9 million.

Meanwhile, the overall position structure of this account has changed significantly. The total position size has increased to $115 million. In addition to retaining about $57 million in commodity shorts, part of the focus has shifted back to the crypto market, with nearly $59 million in new long positions, aggressively bottom-fishing coins such as XRP, SOL, and ETH. On-chain stock-related positions have been significantly reduced. The current main commodity positions compared with last Friday are as follows:

5x PAXG (on-chain gold): position size increased from $12 million to $24.9 million, average price dropped from $5,250 to $4,991, with an unrealized profit of about $980,000;

5x xyz:GOLD (gold-mapped contract): position size increased to $12.8 million, average price dropped from $5,320 to $4,814, with an unrealized loss of about $83,000;

2x xyz:SILVER (silver-mapped contract): position size increased to $9.49 million, average price dropped from $108 to $81, with an unrealized loss of about $170,000.

It is reported that this address has previously focused on on-chain contract operations for crypto assets. Since January 8 this year, it has continuously reduced high-leverage ETH, BTC, and SOL short positions; instead, it gradually increased on-chain stock positions, with on-chain stock holdings accumulating nearly $80 million in January, and has recently returned to the crypto market.