Two Whales Bet Against $NEAR, Wake Up $25.89 Million Poorer 🤡

Two large entities holding short positions on $NEAR are sitting on combined unrealized losses of approximately $25.89 million after the token's sharp price increase, according to on-chain data.

The first address, beginning with 0xfe7c, holds short positions of approximately 4.32 million $NEAR at an average cost of $2.55. As the price climbed, the unrealized loss on the address's open positions rose to approximately $12.44 million. By the afternoon of September 26th, the whale had closed short positions totaling approximately 771,700 $NEAR, recording a realized loss of approximately $1.77 million.

A second whale address, beginning with 0xdd53, holds a short position of approximately 4.31 million $NEAR at an average price of $2.31. That position carries an unrealized loss of approximately $13.45 million. The address has closed only approximately 5,293 $NEAR short positions since September 24th, retaining the bulk of its exposure.

The same 0xdd53 wallet also closed a portion of its $ZEC short positions on the same day. Those transactions produced a realized loss of approximately $238,100, while the unrealized loss on remaining $ZEC short positions stands at approximately $9.23 million. On-chain records show the address continuing to hold the majority of its open positions across both tokens despite the mounting paper losses.