Whale reduces leverage short positions and switches to PAXG, on-chain gold short positions exceed $13 million

2026-01-13 07:46:17

【Blockchain Rhythm】An interesting on-chain movement has attracted attention. Starting from January 8th, a whale address (0xfc66) has been adjusting its leverage strategy. This address previously held short positions in ETH, BTC, and SOL with 20x leverage, totaling up to $45.6 million, but has recently been gradually reducing its positions and has now shrunk to $17.6 million.

What’s more notable is that this whale recently changed its strategy. It has begun heavily deploying on-chain gold (PAXG) short positions with 5x leverage, currently holding $13 million worth at an average price of $4,517, and is still building the position. As of January 13th, this address has become the largest short holder of PAXG assets.

Specifically, the main positions of this address include:

PAXG (On-chain Gold) Short: $13 million, average price $4,517, unrealized loss 1.8%

XRP Short: $13 million, average price $2.056, unrealized gain 1.5%

HYPE Short: $5.87 million, average price $24.38, unrealized gain 9.0%

In addition to crypto assets, this whale is also trading traditional stocks on Hyperliquid. It has opened 18 stock short positions, with larger positions concentrated in ORCL (Oracle), PLTR (Palantir), and AMZN (Amazon). The total stock positions on-chain amount to approximately $4 million.

Adding everything up, the total holdings of this address have reached $53.2 million. It’s clear that this whale is betting on the decline of both the crypto market and traditional stocks with a rather aggressive strategy.

PAXG-0.2%

ETH-0.4%

BTC-0.21%

SOL1.71%

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HodlTheDoor

· 18h ago

This whale really knows how to play, switching from a 20x short position to PAXG. Did it sense something?

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HypotheticalLiquidator

· 18h ago

20x leverage suddenly cut down to 5x? Is this whale scared or is it a trap to induce a short squeeze... What's important is how the health factor is doing.

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DataChief

· 01-15 18:21

Whales abandoning coins and turning to gold shorts? Are they betting on inflation pulling back or simply bearish on gold prices?

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WenMoon42

· 01-15 17:09

Is this whale about to start making gold? Switching from crypto to PAXG, it feels like a big move in the making.

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HalfPositionRunner

· 01-13 08:16

Whales have changed their tune, shifting from smashing coins to smashing gold. Are they trying to bottom out on gold or are they bearish?

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zkProofGremlin

· 01-13 08:15

Whale changing tactics? Switching from a 20x leveraged short to a PAXG short—really breaking the mold.

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MrDecoder

· 01-13 08:12

Whales are shifting from crypto to on-chain gold. What does this imply...

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AltcoinMarathoner

· 01-13 08:05

ngl this whale pivoting from crypto shorts to paxg is giving "exhausted at mile 20" energy... like why abandon the accumulation phase when macro momentum still favors digital assets? the downgrade to 5x on gold feels defensive, tbh. 🤔 but hey, if institutions are rotating into tangible assets, maybe there's a longer cycle play here we're not seeing yet. staying patient on this one.

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ChainWatcher

· 01-13 07:57

Whales withdraw from 20x leverage and turn into gold shorts? This logic is quite interesting. Are they bearish on precious metals or is there something else in mind?

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DYORMaster

· 01-13 07:48

Whales are changing their tune, shifting from the crypto world to gold. Is this a move to bottom fish the gold price? Or is there something else in mind?

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