The sharp rise in NEAR price resulted in millions of dollars in unrealized losses for two whales holding large short positions.
According to on-chain data, the total unrealized losses of two large entities holding short positions on NEAR reached approximately $25.89 million.
The address starting with 0xfe7c holds short positions of approximately 4.32 million NEAR at an average cost of $2.55. As the price increased, the unrealized loss on the address’s open positions rose to approximately $12.44 million. As of the afternoon of September 26th, the whale closed short positions totaling approximately 771,700 NEAR, recording a realized loss of approximately $1.77 million.
Another whale address, starting with 0xdd53, holds a short position of approximately 4.31 million NEAR at an average price of $2.31. This address has an unrealized loss of approximately $13.45 million on its NEAR position.
This address appears to have closed only approximately 5,293 NEAR short positions since September 24th, retaining the majority of its holdings.
The same whale also closed some ZEC short positions today. These transactions resulted in a realized loss of approximately $238,100, while the unrealized loss on remaining ZEC short positions is approximately $9.23 million.
