$ETH Whale Big Shorts ETH $30 Million With 10x Leverage

On 07/12, the market witnessed a massive short order targeting Ethereum. A whale deposited 3 million USDC into the DEX.

🔸 Immediately after, this whale opened a Short position on ETH using 10x leverage. With 10x leverage, the total notional value of this short bet amounts to $30 million.

🔸 This move indicates the whale is extremely Bearish on ETH price in the short term. However, with 10x leverage, a mere 10% price increase in ETH would wipe out this $3 million principal.

Do you think this whale knows something about an incoming crash, or are they recklessly standing in front of a moving train?

News is for reference, not investment advice. Please read carefully before making a decision.