Gold Price Surpasses $5100, On-Chain Gold Bulls See Soaring Profits

Gold Prices Rise, Boosting On-Chain Long Positions

On January 26, rising gold prices, which surpassed $5100 per ounce, significantly increased profits for investors holding long positions in on-chain gold PAXG on Hyperliquid.

The largest whale holding leveraged PAXG longs (0xfd6) has seen unrealized gains of $710,000 with a 5x leverage position, achieving a return of approximately 96%. The current value of the position stands at around $3.71 million, with an average entry price of $4,126.

Whale Remains Bullish with Target at $8850

This whale placed a take-profit order as early as November 1 last year, projecting gold prices could reach $8,850. Since opening the long position on October 22, the account has only held PAXG, demonstrating strong confidence in the asset's upward trajectory.