A certain Yield Farming Protocol is reducing its position by $14 million, intending to buy back at a lower price.

August 11th, according to TradingBeats (formerly Hyperinsight) monitoring, the smart money that has been rotating between Micron, SanDisk, SK Hynix, and KIOXIA in the storage sector has now held a storage long position of approximately $13.972 million. However, they have placed 6 reduceOnly sell orders above their current positions, planning to reduce by about $15.292 million. The exit plans for the SK Hynix, SanDisk, and KIOXIA existing positions have been largely implemented.

Details:

SK Hynix (SKHX): Currently holds 6,653.8 units, worth around $6.69 million, with an average entry price of $1,053.12. They have placed sell orders for 6,445.1 units at prices between $1,062 and $1,165, amounting to approximately $7.223 million, covering 96.9% of their current position;

SanDisk (SNDK): Currently holds 5,490.6 units, worth about $6.798 million, with an average entry price of $1,276.69. They have placed sell orders for 5,389.2 units at prices between $1,280 and $1,440, amounting to approximately $7.51 million, covering 98.2% of their current position;

KIOXIA: Currently holds 1,666.7 units, worth around $0.484 million, with an average entry price of $304.03. They have placed sell orders for all 1,666.7 units at $335, planning to exit their entire position.

The total unrealized loss of the three storage long positions is currently about $0.552 million. SNDK has an unrealized loss of about $0.212 million, SKHX has an unrealized loss of about $0.318 million, and KIOXIA has an unrealized loss of about $0.022 million. Most of the sell prices are near or above the cost, and they currently prefer to wait for a rebound to break even before temporarily exiting.

This address has not completely abandoned the storage sector. Simultaneously, they have placed buy orders of about $4 million at lower levels: planning to acquire approximately 2.582 million units of MU at $811, add about $1 million worth of SKHX at $950, and add about $0.5 million worth of KIOXIA at $285.

If all the bottom buy orders are filled, they will re-establish a 3,082.6 unit long position in MU, increase the SKHX position to 7,706.4 units, and nearly double the KIOXIA position.

It is reported that this address has completed 20 rounds of trading since July, with 19 rounds profitable and only 1 losing round, achieving a win rate of 95%, and realizing a net profit of about $4.6 million in the storage sector. They have won 9 rounds with Micron and SanDisk.

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