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The sharp decline in the cryptocurrency market in recent days has also deeply affected large investors.
On-chain data reveals that some whales are closing positions they've held for years, incurring heavy losses. The large losses on Uniswap ($UNI) have been particularly striking.
Whale 0x3136, who held 512,440 $UNI for nearly five years, finally surrendered. The investor deposited all his assets on Binance, closing the position with a loss of approximately $11.64 million. The whale withdrew these $UNI from Binance in April 2021 at an average price of $29.83. At the time, his portfolio was worth $15.28 million, but during the recent sell-off, the total value of his assets had fallen to $3.64 million.
The newly created wallet with the short address 0x499f attracted attention by withdrawing 5,000 $ETH (approximately $15.04 million) from Binance in the last 4 hours.
Another whale who has been trading against the market for months, 0x5D2F, has made a massive profit on a short position against Bitcoin. His short position of approximately 1,232 BTC ($113.27 million) currently represents over $24 million in unrealized profit.
This investor's total profit on Hyperliquid has exceeded $51 million, and he also earned $9.2 million in funding fees alone.
One of the most dramatic losses of the recent period belongs to the 0x4ed0 wallet. The investor had accumulated $ETH and WBTC through a debt loop strategy, but the sharp price drop plunged these positions into significant losses. He bought 18,447 $ETH at an average cost of $4,417 ($81.5 million) and accumulated 1,560 WBTC at an average cost of $116,632 ($182 million).
Over the last three days, he sold his entire $ETH position for an average of $3,046, closing his debts. This transaction resulted in a total loss of more than $25 million. The losses on the WBTC side continue. The whale's 1,560 WBTC holdings are currently worth $138.56 million, with an unrealized loss of over $43 million.
*This is not investment advice.