Two Whales Battle for Half a Month: $25 Million Long vs Short Showdown—Who Will Have the Last Laugh?

[BlockBeats] An interesting showdown is unfolding on-chain.

Since mid-November, two whale wallets have been going head-to-head like a chess match—one is aggressively going long on altcoins (( address 0xa2c)), while the other is frantically shorting 22 tokens (( address 0xa31)). After half a month, both of them still hold highly overlapping portfolios, neither has made any significant position adjustments, and their portfolio sizes are about the same.

Here’s the current situation:

On the long side, the whale is holding long positions in 20 altcoins, with a total portfolio value of $25.1 million. Although there was a $4.9 million loss yesterday, today has seen a substantial recovery, with unrealized losses narrowing to $2.34 million. However, only three tokens—FARTCOIN, SOL, and LINK—are actually profitable, with combined gains of $320,000, which is better than nothing.

The short side is having a much smoother ride. With short positions in 22 altcoins and a total scale of $22.88 million, only HYPE and kBONK have resulted in a minor $160,000 loss. Everything else is showing solid green profits.

These two whales are like poker players with almost identical hands, just waiting to see who can outlast the other. Right now, the short side is clearly winning, and it’s uncertain whether the long side will hold on or be forced to exit first.