A smart fund shorted altcoins and suffered a floating loss of more than $12.48 million, of which XRP lost as much as $9 million

PANews reported on July 21 that according to Aunt Ai's analysis, a smart fund that used $2.82 million to leverage 14.81 million USDDe earnings recently suffered a floating loss due to shorting a basket of altcoins, with a cumulative loss of $12.48 million. Before May this year, the short-selling strategy performed well, but with the recent sharp rise in the market, the strategy quickly gave up profits. The fund adopted a short-selling strategy of "large positions with high market value and small positions with small market value", only holding long positions in BTC and AAVE, and only 38% of the remaining 26 short positions were in a floating profit state. Among them, the loss of a single XRP was as high as $9 million, becoming the main source of losses.