On-chain whales with high leverage short PAXG and lose 470,000, the overall account still has an unrealized profit of $1.24 million

2026-01-20 04:40:09

【Blockchain Rhythm】There is a large on-chain holder whose recent actions are indeed quite aggressive. Holding 2989.3 PAXG tokens (equivalent to $14.02 million), they directly used 5x leverage to short, with a position entry cost of $4,533 per token. As a result, they are now showing a paper loss of $477,000.

But this guy clearly isn’t just shorting gold. The account also has high-leverage short positions in BTC and a bunch of altcoins, which are currently profitable, with the entire account showing an unrealized gain of $1.245 million. It seems they are betting on a decline in commodities and cryptocurrencies, but the gold bet appears to have some issues.

PAXG1,88%

BTC-1,88%

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GasFeeCryer

· 9h ago

Gold hit a snag, but the overall account still made a profit, which is why I dare to play like this... However, using 5x leverage to short PAXG is indeed a bit thrilling.

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potentially_notable

· 9h ago

Shorting gold resulted in a loss of 470,000, yet I can still sit back with floating profits. How strong must one's mindset be... If it were me, I would have already sleepwalked to close the position.

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MetaNomad

· 9h ago

Gold indeed hit a snag, but the account still has an unrealized profit of 1.24 million, indicating that the overall strategy is okay. It's just that the 5x leverage on this PAXG move was a bit too aggressive.

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MagicBean

· 9h ago

Gold indeed took a hit, but the account is still making money, which shows this guy really has some skills—just playing with leverage a bit aggressively.

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StakoorNeverSleeps

· 9h ago

Gold indeed underperformed, but the account is still in the green, which is the key, right?

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