On April 21, according to Hyperinsight monitoring, over the past 16 hours, the Galaxy Digital related address (0xcac) has been continuously closing ETH short positions, reducing a total of 905 ETH, approximately worth $2.09 million. Currently, there is still an unrealized profit of $2.6 million, with a position size of $7.4 million.

Since March, this address has significantly reduced its holdings, continuously selling spot BTC and ETH while simultaneously closing short positions, with total spot sales reaching $11 million, completing the liquidation; the short position size has also decreased from $35 million to the current $13.8 million, during which the funding rate settlement recorded a profit of about $3.5 million.

It is reported that this address has received on-chain funds from Galaxy Digital multiple times and has been executing a long-term neutral arbitrage strategy on Hyperliquid, usually maintaining a risk-neutral stance by selling spot assets and closing short positions, or buying spot assets and increasing short positions.

Address: 0xcac19662ec88d23fa1c81ac0e8570b0cf2ff26b3#GatePreIPOs首发SpaceX