Whale Short Position on ETH Exceeds $57 Million Amid $21.6 Million Loss

COINOTAG News reported on August 18 that, based on @HyperInsight’s tracking, a significant investor holding the address 0x20c2d9…44f5 has recently taken a notable position in Ethereum (ETH). Earlier today, this whale initiated a short position at a price point of $2740, augmenting their margin by an impressive $857,000 mere hours ago. This substantial move has brought their total position value to over $57 million. However, the current market dynamics have triggered considerable volatility, resulting in an estimated floating loss of around $21.6 million for the investor. Should the price of ETH escalate to $6073, it will activate a liquidation event, emphasizing the inherent risks associated with high-leverage trading strategies in the cryptocurrency market.

‘,
‘

🔒 Secure and Fast Transactions
Diversify your investments with a wide range of coins. Join now!

‘,
‘

💎 The Easiest Way to Invest in Crypto
Dont wait to get started. Click now and discover the advantages!

‘
];

var adplace = document.getElementById(“ads-binance”);
if (adplace) {
var sessperindex = parseInt(sessionStorage.getItem(“adsindexBinance”));
var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBinance.length) : sessperindex;
adplace.innerHTML = adscodesBinance[adsindex];
sessperindex = adsindex === adscodesBinance.length – 1 ? 0 : adsindex + 1;
sessionStorage.setItem(“adsindexBinance”, sessperindex);
}
})();