「Silverback Army」 opened a $6.9 million silver short position over the weekend, with unrealized gains from the pre-market silver dip already reaching 91%.
March 16 — Per data from Coinbob Popular Address Monitoring, silver prices on Hyperliquid plummeted to $77.1 ahead of the U.S. stock market open. The whale address “Silver Iron Head Air Force” (0x61ce) saw its unrealized profits on a silver short position climb to $310,000 (a 90% gain).
The short was opened on March 14, with the whale holding a 20x-leveraged silver short at an average entry price of $80.76, a position size of $6.9 million, and a liquidation price of $136.
Previously, this whale was among the largest on-chain silver shorts with a $35 million position. It was forced to close that position during silver’s sharp rally in January and now holds an equivalent-sized long position in BTC.
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A Whale Acquires $4 Million Worth of Altcoins, including BNB, AAVE, ETH, and other tokens
March 16th — Per OnchainLens monitoring, a whale address has again withdrawn assets from Binance, including:
- 1,140 BNB (≈ $770,800)
- 12,883 AAVE (≈ $1.53 million)
- 545 ETH (≈ $1.23 million)
- 62,898 LINK (≈ $604,600)
The whale’s current holdings are as follows:
- 23,683 AAVE (≈ $2.82 million)
- 1,005 ETH (≈ $2.26 million)
- 51,190 HYPE (≈ $2.01 million)
- 2,090 BNB (≈ $2.01 million)
- 115,889 LINK (≈ $1.11 million)
- 7.85 million ENA (≈ $918,300)
Address: 0xbfa7b56529bfc010ea4d0b98280e18d4cc5b45d0
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A whale has gone long on EUR/USDC with a $1 million position, betting on a weakening dollar amid expectations of a Fed rate cut
**March 16 – Per HyperInsight monitoring, a whale wallet (starting with 0x133) opened a EUR/USDC long position on March 12 with 34x leverage, totaling ~$1.04M in position size. The average entry price was $1.148, and the position now faces ~10% unrealized loss.**
From a macro standpoint, the long bet may stem from two key signals: U.S. February non-farm payrolls dropped by ~92k, while the unemployment rate ticked up slightly to 4.4% – pointing to a cooling labor market. Meanwhile, February CPI rose ~2.4% year-over-year, leading some to believe inflation has not rebounded.
However, escalating U.S.-Iran geopolitical tensions have significantly slowed the Fed’s pace of rate cuts. The whale’s heavy investment now likely reflects a bet on marginal easing or de-escalation of the conflict. Markets are now turning their focus to the Fed’s interest rate decision, due early March 19.
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Spot Silver Plunges Over 3% Intraday, Breaks Below $78/oz
On March 16, spot silver slipped below $28 per ounce for the first time since March 3, posting a 3.27% intraday drop, according to Bitget market data.
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Saudi Arabia-Iran Strategy Gap on Display: Privately Urged U.S. to Get Tough, Publicly Avoided Direct Confrontation
March 16 – According to The New York Times, amid the ongoing U.S.-Iran conflict, Saudi Crown Prince Mohammed bin Salman has held multiple phone calls with former U.S. President Donald Trump, privately urging the U.S. to maintain its tough stance against Iran. This position is viewed as an extension of the "cut off the head of the snake" strategy previously proposed by the late Saudi King Abdullah.
However, Gulf countries as a whole have remained cautious publicly. During a recent meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan, bin Salman noted that Iran’s attacks on Gulf Cooperation Council (GCC) nations pose a serious threat to regional security—but emphasized the GCC will prioritize preserving regional stability.
Despite the conflict having lasted roughly two weeks, with Iran launching over 2,000 missiles and drones into the Gulf region, Gulf states have no plans for direct retaliatory strikes against Iran. Multiple sources indicate countries fear direct involvem
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