Whale showdown: Bearish strategy gains big vs. bullish losses, 2024 returns differ by over $120 million

【BlockBeats】On January 5th, the crypto market staged an interesting whale showdown. One address recently resumed small-scale short positions on PEPE, currently around $120,000, with an average price of $0.007. Their real killer move is the LIT short — since LIT launched, they have been increasing their position, now swelling to $11.2 million with an average price of $2.7. On the Hyperliquid platform, they have become the largest short seller for LIT, ASTER, and UNI.

Size says everything. This address has been playing the altcoin game since November. At that time, their holdings were about $20 million; now, they have doubled to $40.7 million. Today’s market rally caused their unrealized gains to shrink by $800,000, but they still hold about $4.6 million in unrealized profits. Over the past two months, they earned $13 million, with a total profit of an astonishing $81 million this year.

The biggest contrast comes next. Another whale, who was also battling them in November and was long on altcoins, is now in much more pain. Their holdings dropped from $25 million to just $2.33 million, with a loss of over $42.7 million this year. Two addresses, both playing with altcoins, but their outcomes are completely different — this is the power of choosing the right direction.