One Desk, and a Bet against the crowd - It’s Working (So Far)!

this Strategy-linked counterparty is quietly running a very opinionated book. Big, heavy longs…

Right now, the wallet is carrying a total exposure north of $365M, almost entirely on the long side. ETH, BTC, SOL, all leaning bullish, all in profit. And then there’s DASH… the lone red candle in the portfolio, and ironically, one of the cleanest trades on the board.

The ETH long is the anchor. About 67,425.6 ETH, valued around $201.4M, entered near $2,978, now marked close to $2,987. Not flashy, but steady -- sitting on roughly +$634K in unrealized gains. Liquidation is far away down at $2,493, with over $13.4M margin posted. Funding hasn’t been kind though, already costing about $90.6K.

Next to it, the $BTC long holds 968.1 BTC worth roughly $87.1M. Entry around $88,995, trading near $89,924 now. Unrealized profit is close to +$900K, liquidation all the way down at $56,227. Margin sits at $4.35M, funding costs basically noise so far.

The $SOL long is where things get spicy. 527,399.75 SOL, about $68.7M in size. Entry near $127.66, mark price hovering around $130.23. That’s already translating into +$1.35M unrealized profit, with liquidation deep below at $67.58. Margin posted: $3.44M, funding cost around $26.6K.

And then… the outlier.

The $DASH short -- the only bearish position in the entire book. 112,150.15 DASH, roughly $7.37M notional. Entry around $74.93, now trading closer to $65.73. Unrealized profit sits just over +$1.03M, with liquidation way up at $326.86. Even after paying around $280K in funding, the trade is still comfortably green.

Add it all up and the wallet is floating at roughly +$3.9M uPnL, with an overall ROE of about +17%. Just size, patience… and one very deliberate bet against DASH while staying long the rest of the market.

Address: 0x94d3735543ecb3d339064151118644501c933814