The S&P TOP 1’s top holding is holding long positions with hopes that the U.S. stock market will outperform the altcoin market; after the two offset each other, it will incur a loss of $4.32 million next week.

Mars Finance News, on April 16, according to Hyperinsight monitoring, last week, the previously identified “ZEC largest short” whale opened a long position in the S&P 500 (Standard & Poor’s 500 Index) worth up to $56.2 million, betting that U.S. stocks would continue to rise. During the day, the S&P 500 index rose above $7,000, hitting a new high, and this long position brought in an unrealized profit of about $1.32 million. On the other side, it also held approximately $28.2 million in crypto market short positions, covering 14 different coins, mainly concentrated in HYPE and ZEC. During HYPE’s strong rally today, just the long position in this coin was unrealized loss of $2.56 million, becoming the largest source of loss.
Despite the crypto shorts only accounting for half of its U.S. dollar position, this whale account still incurred a total loss of over $4.32 million in the past week, with a single-day loss of $500k.
Address: 0xd47587702a91731dc1089b5db0932cf820151a91