Due to the continuous rise in spot silver prices, the largest on-chain silver short recently reduced its position by $4.4 million

BlockBeats News, February 28. According to Hyperinsight monitoring, the spot silver price has continued to rise this month, breaking through $94 last night and this morning. Influenced by this trend, the whale address (0x8af) that has been shorting silver since January 28 has seen its floating loss expand to $1.28 million, with a loss of 85%.

The address currently holds a short position in SILVER (Silver Mapping Contract) of approximately $10.47 million, with an average price of $83.1 and a liquidation price of $105, making it the largest silver short on-chain.

It is reported that after opening a position last month, the address once had a significant unrealized profit. With the recent price increase and the position moving from profit to loss, it has started to gradually close out its position. In the past 5 days, it has closed out approximately $4.4 million.