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On-chain Ethereum’s largest long trims 14,000 ETH to lock in profits
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News EditorAccording to TradingBeats, the largest on-chain Ethereum long position began taking profits on Aug. 24. The wallet cut 14,000 ETH, worth about $34.15 million, five minutes earlier. The address is tied to BIT, had previously received transfers from Matrixport, now renamed BIT, and still holds about $25.24 million in ETH longs. Its average entry price was $2,340.86, leaving about $1.83 million in unrealized profit. The wallet address is 0xa5b0edf6b55128e0ddae8e51ac538c3188401d41.
BlockBeats reported on Aug. 24 that the largest on-chain Ethereum long position started taking profits. According to TradingBeats, the wallet reduced 14,000 ETH five minutes earlier, worth about $34.15 million.
The address is 0xa5b0edf6b55128e0ddae8e51ac538c3188401d41. It is a BIT-linked address and has received transfers from Matrixport, which has since changed its name to BIT. TradingBeats said the wallet remains the largest on-chain ETH long, with two other related addresses building positions alongside it, while this address serves as the main one.
After the reduction, the remaining position was about $25.24 million. The average long entry price was $2,340.86, and the unrealized profit on the rest of the position was about $1.83 million.
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