According to Onchain Lens, whale address 0x50b has closed its Ethereum short position, realizing a loss of $9.386 million on the trade. The move sharply reversed the wallet’s broader performance, with total cumulative profit falling from $6.6 million to an overall loss of $2.3 million. Despite exiting the ETH short, the whale is still holding a 20x leveraged long position of 228.7 BTC, indicating that the address remains actively exposed to directional market risk. The latest position update highlights how quickly leveraged crypto trades can reshape wallet-level PnL, especially for large on-chain players whose trades are closely tracked by the market.
On-chain position update
Data tracked by Onchain Lens shows that whale address 0x50b has closed its Ethereum short position. The trade resulted in a $9.386 million loss, marking a significant setback on a single directional bet. Based on the latest on-chain update, the wallet’s previously accumulated gains were heavily reduced after this position was unwound.
PnL reversal and remaining exposure
Following the close of the ETH short, the whale’s total profit and loss shifted from a cumulative $6.6 million profit to an overall $2.3 million loss. Despite exiting the Ethereum short, the address still holds a 20x leveraged long position in 228.7 BTC. This suggests the trader remains actively exposed to high-leverage market risk rather than fully de-risking. Any further changes in this wallet’s positioning may continue to draw attention from on-chain watchers and professional market participants.
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