Trader Closes $14 Million ETH Short While Expanding Long Position to $205 Million
Updated on-chain data shows the whale ‘1011short’ has increased Ethereum longs to nearly 81,000 ETH, with over $21M in profit and new large buy orders placed.
ETH
Summary
On-chain data now indicates that the whale ‘1011short’ holds 80,985.83 ETH in long positions at an average entry price of $3,108.49, generating approximately $21.5 million in unrealized profit. The trader has also placed an unfilled buy order for 19,108.68 ETH at $3,280, valued at about $62.67 million, with current margin usage at 38.35%. This follows their earlier buildup from 65,801.61 ETH longs worth $205 million and the closure of a $14.06 million short position for a $304,000 profit.
Terms & Concepts
- Short Position: A trading strategy where an investor sells an asset they do not own, aiming to buy it back later at a lower price for a profit.
- Long Position: An investment approach where an investor buys and holds an asset, expecting its value to rise.
- On-chain Data: Information recorded directly on a blockchain, providing transparent and verifiable transaction details.