TechFlow reported on June 14 that, according to monitoring by on-chain analyst Ai Yi, a new address, 0xa2e…f1468, began building an ETH short position in batches from 23:42 last night. The short position has reached 23,205.35 ETH, uses 20x leverage, and has a total position value of approximately $39.03 million.
The disclosed data shows that the average entry price of the ETH short is around $1,680.8. At the time of monitoring, the position was carrying an unrealized loss of nearly $17,000. While the current paper loss remains limited relative to the total position value, both the position size and leverage level are high.
The notable details are that the wallet is a new address and that the short was opened in multiple batches. Because the position is using 20x leverage, ETH price fluctuations can have a significant impact on margin and position status. The overall exposure remains a high-leverage, high-risk short position.