ETH Long Whale Forced to Liquidate After Holding for Two Months, $120 Million Position Ends in $9.63 Million Loss

BlockBeats News, February 9th, according to HyperInsight monitoring, an on-chain ETH whale (0xa5b...) closed its long position held for about two months today, ultimately recording a loss of about $9.63 million. This position was established at the end of last year, with a holding size of about 60,040 ETH, a peak value of about $125 million, and an average price of about $2500.

During the holding period, although the address tried to dollar-cost average several times, the floating loss exceeded $24 million on February 6, approaching the liquidation line. With the recent market rebound, the whale chose to temporarily close the position to stop the loss.

After closing the position, the address bottomed and opened a new long position, establishing an ETH short position with an average price of about $2086 and 15x leverage, with a current position size of about $28.6 million. As of the time of writing, it is still slightly increasing its position, with remaining account margin of about $34.8 million.