Trader Closes $13,800 Profit from PAXG Long and Opens New Short Position

Trader Closes $13,800 Profit from PAXG Long and Opens New Short Position

A trader known as '2000万波段猎手' capitalized on a $13,800 PAXG long profit and shifted to a 5x leveraged short, now with a cumulative profit of $110.8 million.

PAXG

Fact Check
The statement is highly likely to be true as its key claims are corroborated by multiple, credible sources with no direct contradictions. 1. **Trader Identity and PAXG Position**: Numerous sources, including several high-authority reports from the Bitget exchange (in French, Italian, Spanish, and English) and another from Cointech2u, consistently identify the trader by the wallet address 0xfc667 and confirm that this trader reduced a short position on PAX Gold (PAXG).2. **Position Value**: Two sources—a high-authority Bitget report and a medium-authority Cointech2u report—explicitly state the value of the remaining short position is approximately $10.65 million. This directly supports the claim that the position is valued at "$10.6 million."3. **Bitcoin Position**: Two high-authority sources from Bitget (the French and Italian versions) explicitly confirm that the same trader holds a leveraged long position on Bitcoin.While some sources do not mention every detail (for example, the English Bitget article and the Cointech2u article omit the Bitcoin position), this represents a lack of completeness rather than a contradiction. The information provided across the relevant sources is consistent and paints a cohesive picture that fully aligns with the statement. The irrelevant sources (from CoinMarketCap, Phemex, MEXC, and LinkedIn) do not offer any conflicting information. The convergence of evidence from multiple independent and credible reports provides a high degree of confidence in the statement's accuracy.
Summary

On January 23, the trader '2000万波段猎手' closed a long position in PAXG after 29 hours, earning a $13,800 profit. The trader then opened a 5x leveraged short on 25.929 PAXG at $4,968.67 each, bringing the address’s total cumulative profit to $110.8 million.

Terms & Concepts
  • PAX Gold (PAXG): A digital token backed by physical gold, issued by Paxos Trust, allowing ownership of real gold in tokenized form.
  • Leveraged Position: A trading strategy where borrowed capital is used to increase the potential return (or loss) of an investment.
  • Floating Profit: Unrealized profit on an open trading position, calculated based on the current market price relative to the entry price.