Whale significantly reduces position by $4 million! Multiple cryptocurrencies such as SOL, ZEC, PUMP, and others face selling pressure simultaneously.

【Blockchain Rhythm】On January 9th, a well-known on-chain whale address (0x94d) began heavily reducing its long positions. Several popular cryptocurrencies such as SOL, ZEC, PUMP, and HYPE were all included in the liquidation.

Data shows that this whale has already liquidated approximately $4 million worth of assets. Its total holdings have dropped from a peak of about $352 million and are still being sold off. Especially with HYPE, all long positions have been cleared.

The origin of this address is quite interesting. It only started building its position in December last year, with an initial account balance of around $20 million. But afterward, it kept increasing its short positions on mainstream coins like BTC and ETH—meaning it was betting against them.

Interestingly, its trading direction is exactly opposite to that of MicroStrategy, a listed company that continuously buys BTC. So the market has nicknamed it the “On-Chain Counterparty.” Now that this counterparty is significantly reducing its holdings, could it be signaling something to the market?