NEAR Price Surge Costs Two Whales Over $25 Million in Unrealized Losses

The sharp rise in NEAR's price has resulted in significant losses for two whales holding large short positions. According to on-chain data, the total unrealized losses of these two entities reached approximately $25.89 million.

One whale, with an address starting with 0xfe7c, held a short position of around 4.32 million NEAR at an average cost of $2.55. As the price increased, this whale's unrealized loss on its open positions rose to approximately $12.44 million.

This whale closed some of its short positions totaling approximately 771,700 NEAR, recording a realized loss of around $1.77 million. Another whale, with an address starting with 0xdd53, held a short position of around 4.31 million NEAR at an average price of $2.31.

This second whale has an unrealized loss of approximately $13.45 million on its NEAR position and also closed some ZEC short positions today, resulting in a realized loss of approximately $238,100.