Onchain 'BTC OG' Whale's Unrealized Loss Narrows to $31M Amid $8.18M Funding Fees
As of Jan. 22, the “BTC OG” whale (address 0xb31) cut unrealized losses on long positions to $31 million, despite $8.18 million in funding fee losses and a $95 million weekly drawdown, Coinbob data cited by BlockBeats shows. The wallet holds about $830 million in open positions, making it the largest on-chain long holder of ETH and SOL, including a $673 million 5x ETH long. The whale transferred $230 million from Binance to Hyperliquid in December and last adjusted its portfolio on Dec. 28 by reducing SOL leverage, with BlockBeats noting a history of trading in line with U.S. policy shifts and a prior $100 million gain from BTC shorts.