Silver Price Drops 6%, Whale's Short Position Sees Massive Profit Surge

Silver Price Plummets, Whale Sees Massive Short Profit

On March 3, silver prices dropped by 6% intraday, falling more than 11.5% from the previous day's high of $97.5. Many whales who bought silver at higher prices have now shifted from profit to loss.

One investor (address 0x007) opened a short position at an average price of $95.1 two days ago. Their unrealized profit has now expanded to $1.37 million, representing a 38% return. The investor holds $12.7 million in leveraged short positions on SILVER, making them the largest short seller on-chain.