A Whale Flips Long to Short, Opening a Short Position of Over $91 Million in Major Coins

On December 29th, Kong Jianping—former co-chairman of Canaan Inc. and current founder/chairman of Nano Labs—said in a post yesterday: “Bitcoin’s adoption logic is undergoing a fundamental shift. Past bull runs followed a clear path: Geeks → Programmers → Retail Investors → Mainstream Finance, with each rally driven by cognitive diffusion.” Post-2024, however, Bitcoin ETFs and institutional holdings have reshaped supply-demand dynamics. Some BTC is being turned into “silent assets” that don’t participate in short-term trading—similar to how gold became part of central bank reserves. When coins are locked up long-term, the number of willing short-term sellers drops, and price momentum will shift from “cognitive diffusion” to “supply contraction.” “The next Bitcoin rally may no longer need a new narrative or set of beliefs.”

On December 29, BlockSec Phalcon monitoring detected that an unknown MSCST smart contract on the BSC network was hit by a flash loan attack, with estimated losses totaling around $130,000. The vulnerability stemmed from missing access control (ACL) in the contract’s `releaseReward()` function, which allowed the attacker to manipulate the price of the GPC token in the PancakeSwap liquidity pool (0x12da).

On December 29th, per Onchain Lens monitoring, a newly created wallet withdrew 1,000 BTC (valued at $89.97 million) from Binance. Two hours ago, another newly created address withdrew 600 BTC from the exchange.

December 29 — On-chain analyst Ai Auntie (@ai_9684xtpa) reports that Trend Research, the institutional arm of Easy Come Easy Go, withdrew 20,850 ETH (valued at $63.28 million) from Binance in the past hour. Subsequently, the firm staked the ETH via the address 0x8FD...97f43, borrowed an additional 40 million USDT, and may continue to add to its position. As of now, Trend Research’s five addresses collectively hold 600,850 ETH, totaling $1.82 billion in value.

On December 29, Onchain Lens data shows a whale purchased 8.58 million FARTCOIN using 2.66 million USDC/USDT.

December 29 – Per GMGN monitoring, a trader who invested $366.43 in Solana-based MEME coin WhiteWhale 25 days ago has completed three sell transactions totaling $11,700. The trader still holds WhiteWhale tokens currently valued at $502,200, with total profits (realized + unrealized) hitting $513,600 and unrealized gains exceeding 1,400x.