Data: On-chain retail investors have closed their short positions on the Nasdaq and are using the funds to short gold, while also investing $59 million to buy into the cryptocurrency market

According to market news, the largest short whale of on-chain gold, "On-chain Stock Investor" (0xfc66…), has concentrated on shorting various commodities with $80 million, and the weekly profit has reached $9.4 million. This address has been continuously closing positions to take profits, primarily focusing on short positions in on-chain U.S. stocks related to XYZ 100 (Nasdaq 100 Index), with the relevant holdings decreasing from about $19.6 million to less than $300,000 over the past few days.

Subsequently, the released funds will be reinvested into short positions in precious metals, with the total scale of related short positions reaching $47 million. Among them, the largest short position is in PAXG (on-chain gold), amounting to $24.9 million. Meanwhile, the overall holding structure of the account has undergone significant changes. The total holding scale has increased to $115 million, retaining about $57 million in commodity shorts, while some focus has been shifted back to the crypto market, with nearly $59 million in new long positions established, heavily buying dips in XRP, SOL, ETH, and other cryptocurrencies. The related holdings in on-chain stocks have been significantly reduced.

The current main holdings in commodities compared to last Friday are as follows: 5x PAXG (on-chain gold): the holding scale increased from $12 million to $24.9 million, average price decreased from $5,250 to $4,991, with an unrealized profit of about $980,000; 5x xyz:GOLD (gold mirrored contract): the holding scale increased to $12.8 million, average price decreased from $5,320 to $4,814, with an unrealized loss of about $83,000; 2x xyz:SILVER (silver mirrored contract): the holding scale increased to $9.49 million, average price decreased from $108 to $81, with an unrealized loss of about $170,000.

It is reported that this address has previously focused on on-chain contract operations for crypto assets, continuously reducing high-leverage ETH, BTC, and SOL short positions since January 8 of this year; gradually increasing holdings in on-chain stocks, with current on-chain stock positions cumulatively increasing by nearly $80 million within a month, recently returning to the crypto market.