On February 9, a major Ethereum whale closed its long position, incurring a loss of approximately $9.63 million. According to BlockBeats, the whale, identified by the address 0xa5b…, had held the position for about two months. The position was established at the end of last year, with a holding size of around 60,040 ETH, valued at a peak of approximately $125 million, with an average price of $2,500.
During the holding period, the whale attempted to average down costs multiple times. However, on February 6, the unrealized loss exceeded $24 million, nearing the liquidation threshold. Following a recent market rebound, the whale opted to temporarily close the position to mitigate losses.
After closing the position, the whale reopened a long position with an average price of approximately $2,086, utilizing 15x leverage. The current position size is around $28.6 million. As of the time of reporting, the whale continues to make small additions to the position, with remaining account margin of about $34.8 million.