Affected by the continued rise in spot silver prices, the largest short seller of silver on the blockchain recently reduced its position by $4.4 million.

According to Mars Finance, on February 28th, Hyperinsight monitoring showed that spot silver prices continued to rise this month, briefly breaking through $94 last night and this morning. Affected by this market trend, the floating loss of a whale address (0x8af) that had short silver since January 28th has widened to $1.28 million, a loss of 85%. Currently, this address still holds approximately $10.47 million in short positions on SILVER (silver-mapped contracts), with an average price of $83.1 and a liquidation price of $105, making it the largest short position in on-chain silver. It is understood that this address initially recorded significant floating profits after establishing its position last month, but with the recent market uptrend and the position turning from profitable to loss, it began to gradually reduce its holdings. In the past 5 days, it has cumulatively closed out approximately $4.4 million in positions.