Whale's 8 million USDC long position faces profit retracement, unrealized gains drop from 3.3 million to 1.75 million

【Crypto Rhythm】In the past few days of market downturn, the days haven’t been easy for a big whale. According to on-chain monitoring data, this address deposited 8 million USDC as collateral on the Hyperliquid platform on January 1st, then began aggressively building positions.

Initially, it set up long positions in 11 tokens: IP, XPL, STBL, MON, PUMP, GRIFFAIN, VVV, AIXBT, HEMI, MAVIA, and STABLE. But it didn’t stop there. Recently, this whale has been continuously adding to its positions, heavily long on BTC, STBL, FARTCOIN, HYPE, TRUMP, LIT, and others.

What was the result? As the market dropped, this guy’s unrealized profit shrank from over $3.3 million to just $1.75 million. That’s quite a significant drop.

Specifically, the long position on BTC is still profitable, with an unrealized gain of $360,000, making it the most stable position in this address. On the other hand, HMSTR is a bit painful, with an unrealized loss of $23,000, currently the biggest loser among the holdings. This also shows that even big players find it hard to perfectly time the market—over-concentration in certain altcoins carries significant risk.