Crypto Whale Opens 20x Ethereum Long Worth $20.67 Million
According to Onchain Lens, a monitored whale opened a new 20x leveraged Ethereum short worth $21.44 million on March 20, underscoring the trader’s rapid shifts between high-risk directional bets.
BTC
ETH
Fact Check
The statement is fully supported by multiple independent reports. The 20x Ethereum long worth $20.67 million is documented by Blockchain.News and BlockBeats, citing Onchain Lens data. The separate 40x Bitcoin long opened below $69,000 is confirmed by WEEX and Hyperinsight monitoring, which specifies an entry price of $68,896.
Summary
According to Onchain Lens, a whale opened a 20x leveraged ETH short worth $21.44 million, representing 10,056 ETH, within the past three hours on March 20. The update marks a significant change from the existing topic’s earlier reports of leveraged long exposure and adds a new Ethereum-specific bearish position to the record of the trader’s activity. Onchain Lens also said the same whale had previously lost more than $1 million on NVDA and BTC long and short positions, highlighting the risks tied to repeated high-leverage trading across markets.
Terms & Concepts
- ETH: The ticker symbol for Ether, the native cryptocurrency of the Ethereum network.
- leveraged ETH short: A trade using borrowed funds to bet that Ether’s price will fall, which amplifies both potential gains and the risk of liquidation.
- BTC: The ticker symbol for Bitcoin, the largest cryptocurrency by market value.