Veteran Bitcoin Trader Faces Over $14 Million in Unrealized and Funding Fee Losses

Onchain data shows the Bitcoin OG whale holds $795M across assets, with only Solana in profit, underscoring current market pressures on major crypto investors.

BTC
ETH
SOL

Summary

A prominent early Bitcoin holder is now facing a $2 million unrealized loss, with only a Solana long position yielding a $5.04 million profit on $71.6 million in holdings. According to Onchain Lens, the address holds a total of $795 million, making it the largest ETH and SOL long on-chain. Earlier data revealed over $14 million in combined unrealized and funding fee losses, with Bitcoin and Ethereum positions remaining negative. Other large whales, including BTC 'Strategy' and ETH 'CZ' wallets, are also posting losses.

Terms & Concepts
  • Funding fee: A periodic payment exchanged between traders in perpetual futures to keep contract prices aligned with spot market values.
  • Long position: An investment position where a trader buys an asset expecting its price to rise.
  • Onchain data: Information derived directly from blockchain transactions, offering transparency into market participants’ holdings and activity.