Ethereum Faces Pressure as Whale Bets Big Against ETH

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ETH’s rebound toward the whale’s liquidation zone near $2,150 puts its short at risk of over $1 million in potential losses.

A crypto whale opened a leveraged Ether (ETH) short position worth more than $100 million, even as Ethereum co-founder Vitalik Buterin pledged fewer token sales via the Ethereum Foundation.

The whale may face over $1 million in potential losses as the ETH price rebounds toward short liquidation levels.

Buterin says the Ethereum Foundation will "sell less ETH" despite offloading over 60,000 ETH earlier this year.

ETH whale faces over $1 million in potential losses

As of Monday, the wallet '0x50b...' held a 47,600 ETH short position worth about $100.72 million, according to Hypurrscan data. The trade used roughly 23x cross-margin leverage, with an entry price near $2,094.92.

ETH was trading around $2,115, leaving the position with an unrealized loss just shy of $994,000. The trader had also paid roughly $2,145 in funding, adding to the cost of maintaining the bearish bet.


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