Gold Surge Drives Whale Profits on Blockchain Positions
Data from Coinbob Whale Tracking shows that on January 29, the recent surge in gold prices past $5,600 per ounce has resulted in significant unrealized gains for major holders betting on the precious metal via blockchain-based assets.
Whale Sees Massive Returns on Gold Positions
A prominent whale (address 0x271) has accumulated a total position worth approximately $5.5 million in gold-linked assets, making it one of the largest bullish holders in the space. The account has been aggressively increasing exposure to precious metals in recent days.
Key holdings include:
- Long PAXG Position: Worth around $3.62 million with an average entry price of $4,429, currently showing a gain of $740,000 (200%);
- Long Silver Futures: Position size around $2.35 million at an average price of $111, unrealized profit of $130,000 (22%);
- Long Gold Futures: Holding worth approximately $1.94 million, average price $4,799, profit of $260,000 (61%).
Whale Doubles Account Value Through Strategic Bets
Starting with a base capital of roughly $1 million, this whale has grown its holdings to $2.6 million through concentrated exposure to precious metals. The strategy reflects a medium-term bullish outlook on gold and silver markets.