[Impact of the Continued Rise in Spot Silver Prices, Largest On-Chain Silver Short Reduces Position by $4.4 Million Recently] BlockBeats News, February 28, according to monitoring by Hyperinsight, spot silver prices have continued to rise this month, briefly surpassing $94 last night and early this morning. Affected by this trend, the whale address (0x8af), which has been shorting silver since January 28, has seen its unrealized losses expand to $1.28 million, with a loss rate of 85%. Currently, this address still holds a short position in SILVER (silver-mapped contract) worth approximately $10.47 million, with an average price of $83.1 and a liquidation price of $105, making it the largest on-chain silver short. It is reported that after opening the position last month, the address initially recorded significant unrealized gains. However, as the recent market trend reversed and the position turned from profit to loss, the address began gradually reducing its position. Over the past five days, it has closed positions totaling approximately $4.4 million.