Lookonchain Says Trader pension-usdt.eth Closed ETH Long for $1.13 Million Profit

According to Lookonchain, the wallet closed an Ethereum short with a $1.13 million profit after nearly two months and still holds a 1,000 BTC long position carrying a $4.98 million unrealized loss.

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Summary

Blockchain analytics service Lookonchain said whale wallet pension-usdt.eth closed an Ethereum short position for a $1.13 million profit after holding it for nearly two months. The new report changes the previously described ETH trade from a long to a short. The wallet still holds a 1,000 Bitcoin long position worth $73 million, which was showing a $4.98 million unrealized loss as of May 28.

Terms & Concepts
  • Ethereum short: A bearish trade that profits if Ethereum’s price falls. Traders close the position to lock in gains or losses.
  • BTC long position: A bullish trade on Bitcoin that benefits if Bitcoin’s price rises. The position remains open until it is closed.
  • Unrealized loss: A paper loss on an open position based on current market value. It is not locked in unless the trade is closed.