On-chain Gold's Biggest Short Squeeze: "On-chain Stock Trader" Gold Bear Turned Loss into Gain, Monthly Profit Reached $15.4 Million

Feb. 17 – Per data from Coinbob Popular Address Monitor, the largest on-chain gold bear whale—dubbed "On-chain Stockholder" (address: 0xfc66...)—recently adjusted its positions: it closed roughly $17 million in short positions linked to the U.S. stock storage sector, while continuing to expand its gold-related short positions. Its total short exposure to PAXG and xyz.GOLD now stands at $44 million. Today, spot gold briefly fell below $1,900 per ounce, flipping the whale’s gold short positions fully from unrealized losses to profits. Through stock and precious metal shorts, plus crypto swing trading, the whale has accumulated total profits of $15.4 million this month. Its current key positions are: - 5x PAXG (on-chain gold) shorts: ~$28.16 million position size, $4,979 average entry price, ~$320,000 unrealized gain; - 6x long XYZ100 positions: ~$19.3 million position size, $24,567 average entry price, ~$40,000 unrealized loss; - 5x GOLD (Gold Mapping Contract) shorts: ~$16.4 million position size, $4,920 average entry price, ~$670 unrealized gain; - 20x long SOL positions: ~$14 million position size, $84.30 average entry price, ~$100,000 unrealized gain. The address has focused on on-chain crypto asset contract trading. Since Jan. 8, it has steadily reduced high-leverage short positions in ETH, BTC, and SOL. Instead, it has gradually built up on-chain stock positions—its on-chain stock holdings rose by nearly $80 million in January alone, bringing total position size to $117 million.