🚨 Is a nearly $96 million ETH whale holding its breath?
A massive Ethereum ($ETH ) long position worth nearly $95.57 million, held by wallet address 0x0392…d7d9, has me feeling pretty nervous. Despite its size, this position uses 14x leverage, so the actual margin (the amount put up as collateral) is only around $6.83 million.
The position is currently down $3.11 million and is only about 6.1% away from its liquidation price (the price at which the position will automatically close, resulting in the loss of the margin), which is $2,301.47. ETH is currently trading around $2,451. A slight market correction could be enough to wipe out this position.
If you were in their shoes, what do you think this whale will do to save the position, or will they accept the risk?
For informational purposes only, not investment advice. DYOR.
#ETH #EtherTook60%OfCryptoLiquidations
A massive Ethereum ($ETH ) long position worth nearly $95.57 million, held by wallet address 0x0392…d7d9, has me feeling pretty nervous. Despite its size, this position uses 14x leverage, so the actual margin (the amount put up as collateral) is only around $6.83 million.
The position is currently down $3.11 million and is only about 6.1% away from its liquidation price (the price at which the position will automatically close, resulting in the loss of the margin), which is $2,301.47. ETH is currently trading around $2,451. A slight market correction could be enough to wipe out this position.
If you were in their shoes, what do you think this whale will do to save the position, or will they accept the risk?
For informational purposes only, not investment advice. DYOR.
#ETH #EtherTook60%OfCryptoLiquidations