🐋 ETH whale sitting on a hefty $11.22M profit—will they take profits?
A massive Ethereum long position (buying with the expectation that prices will rise) was recently spotted on-chain in wallet 0xedcd…d05a. With a notional value of up to $49.94M and ~4x leverage, this whale is sitting on an impressive ~$11.22M in unrealized profit.
Looking at these figures, it's hard not to admire their timing. The liquidation price for this position, $ETH , is ~$1,206.7386—about 51.7% below the current price. This means that despite being deep in the green, the position could still be liquidated if Ethereum drops by more than another 51%.
The market is now watching to see whether this whale will take profits early or continue riding the gains. If you had an ETH position like this, what would you do?
For informational purposes only, not investment advice. DYOR.
#ETH
A massive Ethereum long position (buying with the expectation that prices will rise) was recently spotted on-chain in wallet 0xedcd…d05a. With a notional value of up to $49.94M and ~4x leverage, this whale is sitting on an impressive ~$11.22M in unrealized profit.
Looking at these figures, it's hard not to admire their timing. The liquidation price for this position, $ETH , is ~$1,206.7386—about 51.7% below the current price. This means that despite being deep in the green, the position could still be liquidated if Ethereum drops by more than another 51%.
The market is now watching to see whether this whale will take profits early or continue riding the gains. If you had an ETH position like this, what would you do?
For informational purposes only, not investment advice. DYOR.
#ETH