From a ZEC short position turning into the biggest long position in the S&P, now heavily holding TON short positions, this address understands macro hedging.

CryptoWorld News: TON short positions increased by 697,212.10 tokens, roughly equivalent to $570,471.79 at the current price. The position size is $7,375,528.26. The average entry price fell from $2.03 to $2.01. The current profit and loss is +$1,018,399.45 (+27.62%). The current token price is $1.77, with a liquidation price of $8.27. This address started shorting ZEC at $184; it once ran a floating loss of $21 million, then turned to profit. Recently, it became the S&P 500’s largest long position, with a scale exceeding 70 million.