A smart money address closed $53 million in short positions on SOL and ETH and switched to going long on ETH.

According to Jinse Finance, monitored by Lookonchain, a smart money address closed short positions in cryptocurrencies worth approximately $53.13 million within the past 3 hours, including $17.68 million in SOL and $35.45 million in ETH shorts, realizing a profit of about $1.06 million. Subsequently, the address switched to a long position, opening a long position of 6,590 ETH (approximately $28.9 million) with 20x leverage.