Crypto Whale Opens $99.5 Million Leveraged Long on Ethereum
After a $11.6 million profit from ETH sales, a whale has placed significant short positions on BTC and ETH, which are currently in the red due to market volatility.
BTC
ETH
HYPE
Fact Check
Three separate sources (Bitget, Blockchain.news, misoiduncan.com) directly corroborate the statement, reporting that a whale opened a leveraged long position on Ethereum worth approximately $99.5 million. The reports consistently mention the use of 25x leverage and a position size of around 22,000 ETH. While other provided evidence details different whale activities, they do not contradict this specific, well-supported claim.
Summary
A whale recently closed a profitable ETH position at $4,221 for a $11.6 million gain and subsequently opened $137 million in short positions on BTC and ETH. The whale’s current positions, including a 40x short on 800 BTC and a 20x short on 8,000 ETH, are showing a $4 million floating loss amid market fluctuations.
Terms & Concepts
- Short Position: A trading strategy where a trader borrows an asset to sell it, hoping to buy it back at a lower price for a profit.
- Unrealized Loss: A loss on a position that has not yet been closed, representing a decrease in the value of an asset since it was purchased or opened.