Whale Overhauls Portfolio, Gold Short Strategy Starts Paying Off
On February 17, according to Coinbob address tracking data, 'Chain Investor' — the largest on-chain gold short-seller (address 0xfc66…) — has made significant portfolio adjustments recently. The whale has been gradually closing its short positions in U.S. stock storage sector, totaling approximately $17 million, while continuously increasing gold-related short positions. Its total gold short holdings now amount to $44 million.
Gold Price Drop Turns Shorts Profitable
The whale's gold short positions turned from floating losses to profits after spot gold prices briefly dropped below $4,900 per ounce today. By combining short bets on stocks and precious metals with crypto trading strategies, the investor has already made $15.4 million in profits this month.
Current Position Breakdown
- 5x PAXG (on-chain gold) shorts: $28.16M exposure, average price $4,979, $320K profit
- 6x XYZ100 longs: $19.3M exposure, average price $24,567, $40K loss
- 5x GOLD (gold synthetic contract) shorts: $16.4M exposure, average price $4,920, $670 profit
- 20x SOL longs: $14M exposure, average price $84.3, $100K profit
On-chain Strategy Continues to Evolve
Prior to this, the address mainly focused on crypto derivative contracts. Starting from January 8, the whale has been reducing high-leverage ETH, BTC, and SOL short positions while gradually increasing on-chain equity holdings. Within one month, the whale added nearly $80 million in on-chain stock positions, bringing total equity exposure to $117 million.