TradingBeats monitoring: A whale is gradually converting NEAR long positions into spot positions,TWAP with execution still underway
BIBIBI
AT A GLANCE
Monitoring indicates that a whale is converting part of its NEAR contract long positions into an equivalent amount of spot assets, while total exposure remains close to its previous level.
Article
🔍 On-chain Detective | A whale may be under funding-rate pressure and is converting its NEAR long positions into spot positions
BlockBeats reports that September 28, according to TradingBeats monitoring, a whale is adjusting its positions by gradually closing NEAR contract long positions while simultaneously purchasing an equivalent amount of spot assets. It already holds approximately 738700 NEAR spot assets, valued at 3800800 USD(address 0x089f).
The whale September 23 already holds approximately 1183400 NEAR contract long positions, with an average entry price of 4.468 USD, and its earliest visible leverage setting was 1 x. Since September 25, it has continuously conducted multiple spot-futures position switches and today initiated a 400000 NEAR 24-hour TWAP plan.
Approximately 53%of this plan has been completed, with approximately 188000 remaining to be executed. The remaining contract long positions are currently valued at 2287700 USD, with unrealized profit of 301800 USD; combined spot and contract exposure remains approximately 1183200, close to its previous scale.
For this round, the whale's NEAR contract positions have cumulatively incurred net funding payments of approximately 12300 USD. Closing long positions and purchasing an equivalent amount of spot assets preserves the original bullish exposure and may be intended to reduce ongoing funding-rate expenses. If this TWAP continues to be executed, the plan is expected to conclude around 02: 12 tomorrow.
In addition, the whale still holds a large ZEC spot position valued at approximately 13982400 USD. It plans to sell between 1725 and 1775 USD.
Original link https://m.theblockbeats.info/flash/369314
Key points
01
According to TradingBeats monitoring, a whale is gradually closing NEAR contract long positions while simultaneously purchasing an equivalent amount of spot assets.
02
The whale already holds approximately 738700 NEAR spot assets, valued at 3800800 USD; the address cited in the article is 0x089f.
03
September 23, the whale holds approximately 1183400 NEAR contract long positions, with an average entry price of 4.468 USD, and its earliest visible leverage setting was 1 x.
04
Since September 25, the whale has continuously conducted multiple spot-futures position switches and today initiated a 400000 NEAR 24-hour TWAP plan.
05
Approximately 53%of this plan has been completed, with approximately 188000 remaining to be executed.
06
The remaining contract long positions are currently valued at 2287700 USD, with unrealized profit of 301800 USD; combined spot and contract exposure is approximately 1183200.
07
For this round, the whale's NEAR contract positions have cumulatively incurred net funding payments of approximately 12300 USD.
08
The whale still holds a 13982400 USD spot position valued at approximately ZEC and plans to sell between 1725 and 1775 USD.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This whale is reducing its NEAR contract long positions while purchasing an equivalent quantity of NEAR spot assets. Based on the data in the article, its NEAR overall exposure has changed little, effectively changing the form of the position rather than clearly exiting a bullish position.TWAP is a method of dividing a large trade into portions and executing them over a period of time.
Why it matters to readers
This type of position switch simultaneously involves selling contracts and purchasing spot assets. The report suggests it may reduce ongoing funding payments, but the trading purpose has not been confirmed. The execution status of the remaining TWAP, and whether the ZEC selling plan is carried out, may affect short-term trading observations for the relevant asset.
Do not treat the activity of a single address as a direct signal of market direction. Beginners should distinguish between switching positions while maintaining total exposure and an actual reduction in holdings, and note that the stated purpose and subsequent plan remain uncertain.
Risks and unknowns
The whale's true identity has not been disclosed.
It cannot be confirmed whether the position switch was actually caused by funding-rate pressure; the original article used the speculative phrase “may be intended to.”
TWAP Only approximately 53%has been completed so far; whether the remaining approximately 188000 will all be executed is unknown.
Related Developments
Loading event timeline…
Whether the plan will end tomorrow 02: 12 around then has not yet been confirmed.
ZEC The sale is only a plan; the source text does not state that it has been executed.
The relevant holdings, valuation, and execution progress are monitored by TradingBeats; the evidence provides no independent verification results.
Related concepts
Whale
An individual, institution, or organization that holds a large amount of a particular cryptocurrency and may significantly influence market prices through large-volume buying or selling.
