ETH Whale Faces $48.2M Loss After Liquidation During Price Drop
After three months of inactivity, whale address 0x86E transferred $23.31M in ETH to Galaxy Digital, realizing a $9.15M loss from prior OKX acquisitions.
ETH
XRP
HYPE
Summary
A cryptocurrency whale, address '0x86E', previously liquidated for a $48.2 million loss on a $177 million Ethereum long position, has resumed notable activity. On January 30, 2025, the whale moved 8,491 ETH valued at $23.31 million to Galaxy Digital after three months of dormancy. The ETH was originally obtained from OKX at $3,823 each, worth $32.46 million at acquisition, resulting in a realized $9.15 million loss at current market prices. This follows a history of high-leverage positions in ETH, XRP, and HYPE since November 2024, with $60 million in open positions still held.
Terms & Concepts
- Liquidation: The forced closure of a leveraged position when the account balance falls below margin requirements, often resulting in partial or total loss of the collateral.
- Long Position: An investment strategy in which a trader buys or commits to buy an asset, expecting its price to rise.
- Whale: A term used in cryptocurrency markets to describe an individual or entity holding large quantities of a digital asset, capable of influencing market movements.