Analysis of Fund Operations
According to on-chain monitoring data, on January 27, a mysterious fund address increased its DASH short position by approximately 26,000 tokens within the last hour, worth about $1.92 million. This move boosted the total short position of DASH held by the address to approximately $8.92 million, with the average holding price dropping from $74.56 to $72.14. The current floating profit for this position is around $1.26 million, representing a 70% return.
Operational Background and History
Prior to this, the address was primarily focused on trading BTC, ETH, and other major cryptocurrencies, often managing positions worth hundreds of millions of dollars for intraday swing trading. However, in the past four days, the fund has not opened any new positions, shifting its focus entirely to increasing its DASH short exposure.
Market Positioning of the Fund
Since its initial setup in December last year with a starting capital of around $20 million, the address has gradually built up short positions in BTC and ETH. Due to its trading direction opposing that of MicroStrategy, a publicly listed company aggressively accumulating BTC, the address has been regarded by the market as a clear "on-chain counterparty." The fund is known for its large positions and contrarian trading style, frequently drawing market attention.