Whales are going all in on Ethereum — but record leverage puts their buy orders at risk

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- Whale traders are significantly increasing their long ETH positions while leverage risk reaches historical highs.

- Weak spot demand and declining stablecoin inflows are dampening Ethereum's market momentum.

- Increasing liquidation pressure threatens large leveraged ETH positions throughout December's volatility.

$ETH

ETHUSDT

Perp

3,091.16

-0.46%

$PIPPIN

PIPPINUSDT

Perp

0.35458

+12.88%

$JELLYJELLY

JELLYJELLYUSDT

Perp

0.1037

+31.81%