The recent sharp decline in the cryptocurrency market has had a profound impact on large investors, commonly referred to as whales. On-chain data indicates that some of these significant holders are liquidating positions that they have maintained for several years, resulting in substantial financial losses. The losses observed on Uniswap (UNI) have been particularly notable.
One such whale, identified by the address 0x3136, has closed a position in UNI that they had held for almost five years. This investor deposited all their UNI holdings onto Binance, effectively exiting the position with an estimated loss of approximately $11.64 million. The whale had initially acquired these UNI tokens from Binance in April 2021 at an average price of $29.83. At that time, the portfolio was valued at $15.28 million. However, during the recent market sell-off, the total value of these assets had depreciated to $3.64 million.
In a separate development, a newly created wallet with the short address 0x499f has drawn attention after withdrawing 5,000 ETH, valued at approximately $15.04 million, from Binance within the last four hours.
Meanwhile, another whale, address 0x5D2F, who has been actively trading against the prevailing market trends for months, has realized a significant profit through a short position on Bitcoin. This investor's short position, which amounts to approximately 1,232 BTC and is valued at $113.27 million, currently shows an unrealized profit exceeding $24 million.
The total profit generated by this investor on the Hyperliquid platform has surpassed $51 million. Furthermore, they have also accumulated $9.2 million solely from funding fees.
One of the most striking examples of recent losses is associated with the wallet address 0x4ed0. This investor had amassed ETH and WBTC through a debt loop strategy. However, the precipitous drop in cryptocurrency prices has led to these positions incurring substantial losses.
The investor acquired 18,447 ETH at an average cost of $4,417 per ETH, totaling $81.5 million. Additionally, they accumulated 1,560 WBTC at an average price of $116,632 per WBTC, amounting to $182 million.
Over the past three days, this investor divested their entire ETH holdings, selling at an average price of $3,046, thereby settling their debts. This transaction resulted in a cumulative loss exceeding $25 million. The losses on the WBTC holdings are ongoing. The whale's current holdings of 1,560 WBTC are valued at $138.56 million, representing an unrealized loss of over $43 million.