According to monitoring by Onchain Lens, as cited by Odaily, a whale has opened a 20x leveraged short position on Ethereum. The position currently holds 23,000 ETH and is valued at $39.64 million based on the reported monitoring data. Its liquidation price is $1,832.43.
A short position is designed to profit when the asset price moves lower, while leverage amplifies both gains and losses on the position. In this case, the use of 20x leverage makes the liquidation level an important reference point for the trade. The report did not disclose the identity of the whale address, the opening time, the margin size, or the exact execution price.
Onchain Lens data also shows that since June 10, the whale has made more than $3.15 million in profit through ETH long and short trades. The confirmed details in the report include the direction of the current position, leverage ratio, ETH amount held, position value, liquidation price, and the cumulative profit generated from ETH trading since June 10.