A certain whale address's holdings have surpassed $300 million, shifting from a BTC short position to a long position.

【ChainWen】The latest on-chain data tracking platform shows that an active address named “Strategy Counterparty” has been continuously increasing long positions today, with the total position size reaching a new high and surpassing the $300 million mark. A recent action by this address is particularly noteworthy — opening a new PEPE long position, while its holdings in ZEC are also expanding. Currently, it holds 336 million ZEC (with a market value of about $2 million).

In terms of position composition, this whale account still maintains long positions in major cryptocurrencies such as BTC, ETH, SOL, XRP, and ZEC. In terms of profitability, the unrealized profit in the past 24 hours alone has reached $5.62 million, and the cumulative profit and loss over the past month have more than doubled, reaching approximately $14.1 million. It’s worth noting that the total assets of this account are only $35.8 million, making such returns quite impressive.

Interestingly, this address only started building its position in December last year. Previously, it had a different on-chain strategy — it was once aggressively shorting BTC, becoming one of the largest Bitcoin short positions on-chain. However, since last week, it has shifted gears, moving from a bearish camp to a bullish stance. This transition from extreme pessimism to optimism, to some extent, also reflects a new understanding among market participants about the future market trend.