Short SOL Strategy Brings Whales to Earn Tens of Millions of Dollars

A large trading position has once again attracted the crypto community’s attention. According to on-chain data tracked by Odaily, a whale investor has been executing profitable short trading strategies, particularly focusing on Solana (SOL) over the past few months. The unrealized gains from all of their short positions have exceeded $35 million, demonstrating the success of their contrarian strategy.

Opening Short Positions When Price Dropped to $90

The investor initiated their short position last November when the market experienced significant pressure. Their main short strategy focused on SOL, with a position worth $53 million. The average entry price for this short was around $143, and the investor managed to lock in profits by capitalizing on the price decline to $90. As of the latest data on February 14, 2026, SOL is trading at $84.87, indicating that this short position remains profitable amid the long-term downtrend.

From the $53 million short position, unrealized gains alone have reached $30.35 million. The precise timing of entry and deep understanding of market dynamics are key to this investor’s success.

Risk Diversification: Short Positions in BTC and ETH Strengthen Overall Gains

Not only focusing on SOL, this whale investor also opened smaller short positions in Bitcoin (BTC) and Ethereum (ETH), demonstrating a well-thought-out diversification approach. These additional short positions have pushed total unrealized gains beyond $35 million.

Current market conditions show that short strategies on Bitcoin at levels above $68,880 (current price) and Ethereum above $2,050 (current price) remain profitable for investors who entered positions at higher levels several months ago.

Lessons from Profitable Short Strategies

The short strategies employed by this investor offer several important lessons: first, timing is crucial when opening short positions—entering at peak prices before a correction occurs. Second, asset diversification within short strategies helps reduce concentration risk. Third, disciplined position management—this investor patiently maintains their short positions while waiting for target prices to be reached.

With their short positions continuing to generate profits amid market volatility, this contrarian strategy proves that profit opportunities in crypto are not limited to upward movements but can also be achieved through in-depth analysis and measured execution of short strategies.