A recent on-chain data signal has emerged—well-known large holder "Strategy Counterparty" has begun to significantly adjust their position strategy. This address has been continuously reducing long positions across multiple tokens, including SOL, ZEC, PUMP, HYPE, and others, indicating active position unwinding.

Data shows that this address has so far closed approximately $4 million worth of positions. The long positions in HYPE have been completely cleared, making this signal quite clear. More importantly, the total holdings of this whale have decreased from previous levels to about $352 million, and they are still placing sell orders to take profits and reduce positions.

From the position movement, the whale is actively deleveraging and locking in gains, often reflecting a change in medium- to long-term market expectations. While this may not mean much in the short term, the actions of such large holders are usually worth paying attention to—after all, their risk tolerance and informational advantage are significant.