On-chain NASDAQ 100 largest long positions wrong on three markets: going long NASDAQ and BTC while shorting silver, with unrealized losses approaching $10 million

GateUser-6433627c · 2026-02-24T07:58:11+00:00

On February 24th, on-chain whale 0x8af engaged in long and short trades in the Nasdaq 100, BTC, and silver markets, but faced a double loss, with unrealized losses increasing. The current major loss comes from a BTC long position. Despite recent strategic mistakes affecting returns, this address's total profit remains at $51 million.

GateUser-6433627c

2026-02-24 07:58:11

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On February 24, according to Coinbob’s popular address monitoring, the on-chain largest Nasdaq 100 whale (0x8af) holds positions in US stocks, the crypto market, and precious metals. Currently, it is long over $20 million in XYZ100 (Nasdaq 100 index mapping contract), long an equivalent amount in BTC, and short $12 million in silver, making it the largest on-chain silver short. Due to the combined decline in US stocks and the crypto market today, along with silver remaining high and slightly rising, this address experienced a double loss, with three positions continuously increasing in unrealized losses. The main loss comes from its 40x leveraged BTC long position, with a position size of about $23.2 million, an average price of $10.08 million, and an unrealized loss of $13.8 million, a loss of 2,376%. Additionally, the address still has $14.25 million in pending orders, planning to add to its BTC long positions between $55,000 and $59,000. This whale is long core US stock indices and BTC, along with multiple altcoin shorts as hedges, with a strategy leaning toward betting on the relative strength of mainstream assets. Despite recent misjudgments and commodity-related holdings dragging down overall returns, its full-cycle profit remains at $51 million.

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