According to on-chain monitoring platform Coinbob, the well-known on-chain investor 'On-Chain Investor' (address 0xfc66…) has recently undergone significant portfolio restructuring. Previously known for aggressively shorting commodities, the whale reported a weekly profit of $9.4 million.
Shifting from Stock Shorts to Precious Metal Bets
Over the past few days, the address has systematically closed its short positions on XYZ100 (Nasdaq 100 Index), reducing exposure from $19.6 million to less than $300,000. Simultaneously, it has reallocated released capital into precious metal shorts, bringing total short positions in this sector to $47 million.
- 5x PAXG (On-chain Gold): Position increased to $24.9 million, average price dropped from $5,250 to $4,991, with floating profit of approximately $980,000;
- 5x xyz:GOLD (Gold Futures Equivalent): Position expanded to $12.8 million, average price declined from $5,320 to $4,814, with floating loss of $83,000;
- 2x xyz:SILVER (Silver Futures Equivalent): Position increased to $9.49 million, average price fell from $108 to $81, with floating loss of $170,000.
Return to Crypto with Major Dip Buying
The whale's total exposure has now risen to $115 million. While maintaining $57 million in commodity shorts, it has reallocated significant capital back into crypto, establishing $59 million in new long positions focused on XRP, SOL, and ETH.
Notably, since January 8, 2024, the address had been gradually reducing high-leverage shorts on ETH, BTC, and SOL before shifting focus to on-chain stock positions totaling approximately $80 million. The current return to crypto asset accumulation signals a major strategic shift.