AMD dropped 17% intraday. After the on-chain whale closed their long position with a profit of $2.1 million, they switched to a long position on Intel.

BlockBeats News, February 5 — According to Coinbob’s popular address monitoring, influenced by the semiconductor sector AMD’s closing decline of 17.3% this morning, the address of the “Distinguished Large-Scale Trader” (0x894…) completely closed its long position in xyz:AMD (AMD mapping contract). Previously, this position held 10,000 shares, approximately $2.1 million, recording a loss of about $130,000.

Subsequently, today they opened a long position in the same sector’s xyz:INTC (Intel mapping contract). Currently, this position holds 48,780 shares, approximately $2.38 million, with an average price of $48.33. The position is now showing a slight unrealized profit of about $24,000.

This trader specializes in trading US stocks and on-chain precious metals. They were previously the largest on-chain gold long and have previously held large positions in the NASDAQ and copper prices with a scale of $40 million.