A Galaxy Digital-linked address cut Ethereum short exposure after previously opening a $5.15 million 25x leveraged ETH short, while still holding sizable open positions and batch take-profit orders.
A wallet linked to Galaxy Digital reduced its Ethereum bearish exposure by closing 905 ETH short positions worth about $2.09 million over the past 16 hours. The address previously opened a $5.15 million 25x leveraged ETH short at an average entry price of $2,343 and later placed batch take-profit orders down to $2,280 on April 23 after the trade showed an unrealized loss of about 10%. Despite the reduction, the wallet still held open positions valued at $7.4 million and showed $2.6 million in unrealized profit. Its total short exposure has fallen to $13.8 million from $35 million since March.