Whale Made Millions of Dollars on This Altcoin: Took Opposite Positions on Bitcoin and Seven Major Altcoins

On-chain analytics platform Arkham revealed a striking position distribution of an investor known as "Mk4" in a study published today on X. According to the data, the investor holds over $25 million in NEAR long positions, with approximately $12.15 million in unrealized profits. However, the same investor has different preferences in other major cryptocurrencies. Arkham reported that Mk4 holds a total of $13.1 million in short positions on Bitcoin, Ethereum, Solana, XRP, BNB, Cardano, and Avalanche. This distribution shows that investors are holding positions that could profit from a decline in the broader market, alongside their bullish outlook for NEAR.