According to Coinbob's address monitoring, a major crypto trader known as the 'on-chain opponent' suffered significant losses on February 6. The account executed stop-loss operations on multiple long positions, resulting in a massive $31.13M loss that reduced available funds from tens of millions to under $6M.

$8.29M Emergency Deposit

To maintain trading operations, the address quickly transferred approximately $8.29M to Hyperliquid platform as margin deposit. This strategic move effectively restored account liquidity, bringing total capital back to around $12.9M.

Detailed Loss Breakdown

  • ETH long position: $105M exposure at $1,933 exit price, $17.83M loss
  • BTC long position: $41.52M exposure at $65,700 exit price, $6.3M loss
  • SOL long position: $15.44M exposure at $82 exit price, $3.57M loss
  • XRP long position: $13.88M exposure at $1.25 exit price, $3.43M loss

Market Attention on Contrarian Trading

Since starting operations in December with approximately $20M capital, the account has primarily established short positions on major cryptocurrencies. The trader's approach has attracted market attention for taking positions opposite to MicroStrategy's BTC accumulation strategy. Notably, the account has demonstrated flexibility in adjusting positions across multiple asset classes with significant capital.