BlockBeats reported on June 21, citing monitoring from OnchainLens, that whale address “0xa2e” has opened a new short position in Ethereum. The position totals 23,000 ETH and is valued at $39.64 million. According to the monitoring data, the position was opened with 20x leverage, and its liquidation price is $1,832.43.
A 20x leveraged Ethereum short
A short position generally reflects a trading direction that benefits when the price of the underlying asset declines, while leverage increases the notional size of the exposure and also raises the sensitivity of the position to price movements. In this case, the monitored position involves 23,000 ETH, placing it in the category of large whale activity tracked on-chain.
OnchainLens also reported that since June 10, the same whale has made more than $3.15 million in profit solely from trading Ethereum. The newly opened short position and any further changes to it are based on the on-chain monitoring information cited in the report.