This whale closed more than $100 million in long positions, pocketed $17.78 million in profits, then flipped to short ETH.
According to PANews, citing on-chain analyst Ember, this address closed its long positions for a $17.78 million profit after the Binance hack, then immediately shorted 20,000 ETH. Yesterday afternoon, it added another 10,000 ETH to its short position at $2,430, and prices fell in the evening. It currently holds a 30,000 ETH short position worth $66.9 million, with an average entry price of $2,283 and an unrealized profit of $1.59 million.
· This is a publicly visible on-chain trade by a single address. Its direction and size can both be verified, but it does not represent the broader market's positioning.
· The price of $2,430 for the additional short is above the current average entry price of $2,283; the unrealized profit comes from the price decline after entry.
If you track this kind of address, would you look first at its add-on entry price or the overall size of its short position?
$ETH
According to PANews, citing on-chain analyst Ember, this address closed its long positions for a $17.78 million profit after the Binance hack, then immediately shorted 20,000 ETH. Yesterday afternoon, it added another 10,000 ETH to its short position at $2,430, and prices fell in the evening. It currently holds a 30,000 ETH short position worth $66.9 million, with an average entry price of $2,283 and an unrealized profit of $1.59 million.
· This is a publicly visible on-chain trade by a single address. Its direction and size can both be verified, but it does not represent the broader market's positioning.
· The price of $2,430 for the additional short is above the current average entry price of $2,283; the unrealized profit comes from the price decline after entry.
If you track this kind of address, would you look first at its add-on entry price or the overall size of its short position?
$ETH
