- The whale will win over $4 million from BTC and Sol Shorts due to highly leveraged transactions under the Defi protocol.
- After $1.77 million in profits and $121,000 in funding, the Sol Short Exit is ongoing.
- Despite the profits in funding, the ETH short lag with a loss of $141K indicates a mixed outcome of the strategy.
High-stakes crypto traders have recorded millions of profits from strong short positions in Solana (SOL), Bitcoin (BTC) and Ethereum (ETH). On-chain activity reveals fast-paced trading behavior in decentralized protocols.
The wallet labelled 0x5B5D5120…F298C060 maintains a leveraged trading strategy totaling $57.666 million in conceptual value, and is assigned only to permanent contracts for high-liquid and HIP-2 protocols. Currently there is no funds allocated to spot assets, staking or safes. This reinforces the singular focus on account derivatives.
As the market was pulled back, the whale, which shortened $btc, $eth and $sol, turned the loss into profit again.
He is currently rising $2.17 million in $btc and $1.77 million in $Sol, leaving a loss of 141k in $ETH.
He began closing $sol short.
– lookonchain (@lookonchain) May 15, 2025
The data for the HIP-2 protocol highlights a series of rapid transactions performed on SOL-USD pairs. For a period just over 100 seconds, the wallet made several short transactions ranging from 44.79 to 58.66 SOL, respectively. The deal, worth between $9,993 and $9,999, was opened and closed almost immediately, reflecting consistent trading volumes at token prices of around $170.80.
These short bursts of activities refer to algorithm-driven trading or execution tests aimed at capturing narrow price fluctuations. The repetitive nature of transactions that contain the same as assets and similar quantities suggests a calibrated pattern rather than a random behavior. HIP-2 data confirms that the wallet is not involved with other traded products, such as staking or vaulting participation.
Sol Short is closed for profit
The whales are showing a move to leave the Sol Short Position and secure profits. The original short short was -357,433 sols with an entry average of $175.13. Sol is currently trading at $170.18, so its unrealized profit is around $1.77 million. The trade has earned $121,731 in funding fees.
Recent activity gusts observed in HIP-2, which consists of almost identical open-close sequences, indicate the process of unleashing shorts. This may reflect a strategic withdrawal from positions after hitting a favorable profit margin, rather than a broader change in the market attitude of traders.
The largest short position held by traders is Bitcoin, with a concept value of $113.84 million. The wallet cut -1,119.17 BTC, an average of $103,665.30. Bitcoin’s current price is currently at $101,721, with traders booking an unrealized profit of $2.17 million. Additionally, BTC positions have accumulated $205,760 in funding revenue.
Unlike SOL and BTC, Ethereum’s position remains at a small loss. The wallet shorted -25,530 ETH for $2,522.26. The current market price is $2,527.80, and the position represents an unrealized loss of $141,283. And despite all this, ETH Short raised $95,561 in funding.
Wallet’s actions on these three assets indicate strategic and utilised bets aimed at a decentralized, permanent market. Five-fold cross-leverage amplifies risk and potential rewards, suggesting a high conviction in modern market trends.
