Influenced by the breakthrough of spot gold to a new high of $5600, the "heavy position long on precious metals" whale PAXG long position has already achieved a floating profit of 200%.

BlockBeats News, January 29 — According to Coinbob’s popular address monitoring, driven by the continuous strength of gold prices which today broke through $5,600 per ounce to hit a new all-time high, the whale on Hyperliquid who is long PAXG (on-chain gold) generally secured substantial unrealized gains.

Among them, the “Heavy Long on Precious Metals” whale (0x271) currently holds a total of approximately $5.5 million in PAXG long positions and GOLD (gold mapping contract long positions), making it the largest on-chain gold-related long position. This address previously increased its silver mapping contract (SILVER) long positions significantly yesterday and continued to record notable profits today. Its main holdings are as follows:

PAXG (on-chain gold) long position: approximately $3.62 million, average price $4,429, unrealized profit about $740,000 (200%);

SILVER (silver mapping contract) long position: approximately $2.35 million, average price $111, unrealized profit about $130,000 (22%);

GOLD (gold mapping contract) long position: approximately $1.94 million, average price $4,799, unrealized profit about $260,000 (61%);

This account prefers heavy long positions in gold and silver. Currently, the account funds have increased from about $1 million principal to $2.6 million, showing a strong bullish outlook on precious metal assets, with a trading style leaning towards medium-term holdings.