Gate News reports that on March 20, according to Hyperinsight monitoring, spot gold continued its decline. On a decentralized derivatives platform, the GOLD (gold) contract briefly touched a low of $4,520 this morning, currently trading at $4,680. The second-largest on-chain gold short position holder, “Abraxas Capital” (0xb83), has an unrealized profit of approximately $1.93 million (22.2%). When gold briefly rebounded above $4,700 this morning, this address took the opportunity to partially take profits, closing a short position of about $1.4 million. It still holds a 5x leveraged GOLD short position with a scale of $17.8 million, with an average entry price of $5,187. This short position was significantly increased yesterday when gold was around $4,850, precisely timing the high point of this round of decline.
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