Onchain Lens said the address, described as the largest ETH bear, is short 50,000 ETH and has historically generated cumulative profit of $35.6 million.
Ethereum whale address “pension-usdt.eth” is holding a 50,000 ETH short position valued at about $93.3 million and is currently sitting on an unrealized loss of roughly $8.31 million, according to Onchain Lens. The wallet was described as the largest ETH bear. Despite the current drawdown, the address has posted cumulative historical profit of $35.6 million. Large on-chain short positions are closely watched because they can amplify market moves if traders are forced to cover borrowed exposure.