Whale Adjusts Strategy: Closes Major Crypto Shorts, Bets on On-chain Gold and XRP

Whale Exits Major Crypto Shorts, Shifts Focus to On-chain Gold and XRP

According to HyperInsight monitoring data, on January 14, a major whale began liquidating its leveraged short positions on ETH, BTC, and SOL, with a combined reduction of approximately $3.5 million in exposure in just one hour. Over the past week, the investor has been steadily cutting down short positions on these major cryptocurrencies, reducing the total exposure from $45.6 million to $14.5 million, with BTC shorts fully closed out.

Betting on PAXG and XRP Shorts

Despite the substantial reduction in crypto shorts, the address has not entirely exited the bearish market. Instead, it has started increasing 5x leveraged short positions on PAXG (on-chain gold) and XRP. Currently, the investor holds the largest short position in PAXG. Key short positions include:

• PAXG short: ~$13.2 million, average price $4,525, unrealized loss ~$320,000
• XRP short: ~$11 million, average price $2.088, unrealized loss ~$330,000
• ETH short: ~$7.82 million, average price $3,182, unrealized loss ~$350,000

Expanding Short Exposure Beyond Crypto

In addition to crypto assets, the address has opened 18 short positions on equities via Hyperliquid, with major bets on stocks like ORCL (Oracle), PLTR (Palantir), and AMZN (Amazon). The total value of these stock-related short positions is approximately $4 million, while the investor’s total portfolio stands at around $50 million.