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Data: Suspected Galaxy Digital-related address continues to take profits on ETH short positions, recently liquidated $11 million in spot holdings.
ChainCatcher message, according to Hyperinsight monitoring, over the past 16 hours, the Galaxy Digital related address (0xcac) has continued to close out ETH short positions, cutting its holdings by 905 units, worth approximately $2.09 million in total. There is still an unrealized profit of $2.6 million, with a position size of $7.4 million.
Since March, this address has sharply reduced its position size, continuously selling BTC and ETH spot while also closing its short positions. The total spot sale volume has reached $11 million, completing the liquidation. The short position size has also fallen from $35 million to the current $13.8 million, during which the funding rate settlement recorded an estimated $3.5 million in gains.
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. Typically, it maintains risk neutrality by selling spot and closing short positions, or by buying spot and adding to short positions.