"On-chain investors" liquidate their Nasdaq short positions and chase the funds to short gold, while also deploying $59 million to bottom fish in the crypto market.

On February 3rd, according to Coinbob Hot Address Monitoring, the on-chain gold largest short whale “On-Chain Stock Investor” (0xfc66…) has concentrated on shorting various commodities with $80 million, currently with a weekly profit of $9.4 million. This address has been continuously closing positions over the past few days, mainly on on-chain US stocks short positions based on XYZ100 (Nasdaq 100 Index), reducing related holdings from approximately $19.6 million to less than $300,000. Subsequently, the released funds were added to gold and precious metals shorts, with the total short position reaching $47 million. Among them, the largest short position is PAXG (on-chain gold), with a scale of $24.9 million. Meanwhile, the overall position structure of the account has undergone significant changes. The total holdings have increased to $115 million, maintaining about $57 million in commodity shorts, while reallocating some focus back to the crypto market, opening nearly $59 million in long positions, aggressively bottom-fishing XRP, SOL, ETH, and other tokens. The on-chain stock-related holdings have been significantly reduced. The current commodity holdings compared to last Friday are as follows: 5x PAXG (on-chain gold): position size increased from $12 million to $24.9 million, average price dropped from $5,250 to $4,991, floating profit about $980,000; 5x xyz:GOLD (gold mapping contract): position size increased to $12.8 million, average price dropped from $5,320 to $4,814, floating loss about $83,000; 2x xyz:SILVER (silver mapping contract): position size increased to $9.49 million, average price dropped from $108 to $81, floating loss about $170,000. It is reported that this address has previously focused on on-chain contract operations of crypto assets and has been continuously reducing high-leverage ETH, BTC, and SOL short positions since January 8th this year; gradually increasing on-chain stock positions, which have accumulated nearly $80 million in January, and recently returning to the crypto market.