Interesting on-chain data has been released. According to the address monitoring platform's tracking, a well-known whale involved in shorting has started increasing their position in the recently popular PEPE short positions again within a two-hour window on January 5th—adding approximately $120,000 in holdings at an average price of $0.007.

This guy is no ordinary player. Since the launch of LIT, his short positions on this coin have accumulated to $11.2 million (average price $2.7), and he remains the largest short on top derivatives platforms for LIT, ASTER, and UNI. Overall, since November, he has been holding over 20 altcoins, with his account size expanding from an initial $20 million to $40.7 million.

The craziest part is the profit figures—although today’s market rebound shrank his floating profit by $800,000, there are still $4.6 million in unrealized gains in his account. Over two months, he has earned a total of $13 million, with his annual profit soaring to $81 million.

It’s even more outrageous when compared. Another whale who was fighting him in November, also employing a basket strategy of altcoins, what’s the situation now? His holdings have dropped from $25 million to just $2.33 million, with an annual loss exceeding $42.7 million. In the same sector, the outcomes are completely opposite.