According to on-chain monitoring platform Onchain Lens, a whale address that had been dormant for 8 months has suddenly become active, opening a 20x leveraged short position of 12,832 ETH worth approximately $19.7 million. The information was published on June 26, 2026, via X account @OnchainLens.
Such a high-leverage short implies that if the price of Ethereum rises by approximately 5% (i.e., breaking through a narrow range above the current price), the whale will face liquidation. On-chain data show that this address had engaged in multiple large-scale transactions before its dormancy. Its return to the market may fuel short-term divergence in ETH price direction.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.