Ethereum Whale Faces $17.9 Million Unrealized Loss on 25x Short Position
According to EmberCN, a whale who lost over $43 million in ETH and BTC trades has reopened a $24.5 million ETH short position despite severe prior losses.
BTC
ETH
Fact Check
The statement is strongly supported by the evidence. Multiple sources corroborate that a major Ethereum whale holds a highly leveraged short position with a significant unrealized loss. Source 13 directly corroborates the loss amount, stating it's 'nearly $18 million,' which aligns with the statement's '$17.9 million.' While some sources mention different leverage numbers for similar-sized losses, Source 7 confirms a whale was using a 25x leveraged short position, making the statement's combination of figures plausible as unrealized losses are dynamic.
Summary
EmberCN reported on September 17 that a whale previously losing $35.84 million on ETH longs and $7.5 million on BTC shorts has shifted strategy by shorting ETH again. Over the past month, the trader lost a total of $43.33 million, leaving less than $1 million in assets. Seven hours ago, the whale closed all BTC shorts and opened a new ETH short position of 5,432 ETH valued at approximately $24.5 million at $4,485 per ETH, with a liquidation price of $4,594.
Terms & Concepts
- ETH (Ethereum): A leading blockchain platform with its native cryptocurrency Ether (ETH), commonly used for smart contracts and decentralized applications.
- BTC (Bitcoin): The first and largest cryptocurrency by market capitalization, used as a digital asset and payment system.
- Short Position: A trading strategy that profits from a decline in the price of an asset by borrowing and selling it, intending to repurchase at a lower price.