On-Chain Whale Suffers Over $2.3M Floating Loss from Shorting Gold and Silver

On-chain whale suffers major losses shorting gold and silver

Recent monitoring shows that a major whale on the blockchain opened short positions for GOLD and SILVER 10 days ago and is now facing floating losses exceeding $2.33 million.

The whale held 5,283.85 GOLD tokens with a position size of approximately $28 million using 4x leverage, and 97,085.91 SILVER tokens with a position size of around $9.23 million using 3x leverage.

Market volatility heightens risks

As these positions remain open, future market movements will determine the final outcome. Recent volatility in precious metal-related tokens has highlighted the risks associated with leveraged trading.

• GOLD short position: 5,283.85 tokens, ~$28 million
• SILVER short position: 97,085.91 tokens, ~$9.23 million

This incident serves as a reminder of the significant risks involved in leveraged trading and the importance of careful risk management.