OG whale adjusts SOL leverage to 10x, $754 million position unrealized loss narrows

【Blockchain Rhythm】On-chain data monitoring shows that the address with the nickname “BTC OG Insider Whale” (0xb31) has recently made significant position adjustments in the derivatives market. This veteran address, which previously held 50,000 BTC and had been dormant for 8 years, reduced its SOL long position with 20x leverage to 10x on December 29. Currently, the unrealized loss has eased—shrinking from a previous peak of $76.15 million to $43.9 million.

The total holdings of this address are approximately $754 million, with $39.59 million in margin. The largest position is in ETH: a 5x leveraged position worth $601 million, with an average cost of $3,147, currently with an unrealized loss of $38.7 million (-32%), with a liquidation line at $2,131. The BTC long position is $87.96 million, with an average price of $91,500, with an unrealized loss of $3.52 million (-20%). The SOL long position is $64.67 million, with an average price of $135, with an unrealized loss of $1.91 million (-29%).

Reviewing the operation trajectory of this address, from the evening of December 7 to the morning of December 8, it successively transferred $70 million from a major exchange wallet to a derivatives trading platform, then opened a 5x ETH long position (at an average price of $3,048). On the 10th, it added another $50 million, and on the 12th, it injected an additional $110 million, with total investments reaching $230 million.

It is noteworthy that the trading rhythm of this address repeatedly aligns closely with major policy signals. A few hours before the significant drop on October 11, it had already positioned $500 million in BTC shorts, ultimately making nearly $100 million in profit, once becoming a hot topic in the market. The CEO of a certain platform once revealed that this address is related to some of its clients.