A cryptocurrency whale has recently reported massive losses due to poor timing of long positions on perpetual contracts. According to Lookonchain, the whale was liquidated when Ethereum dropped from over $1.86k to below $1.7k, resulting in a loss of $3.8 million. Another long position was tracked 13 days ago, when Ethereum was seemingly increasing in value, but the whale was liquidated when the asset dropped to $1.62k, resulting in a loss of $1.289 million. The two losses combined add up to $5.1 million. Despite the losses, the whale reentered the market on Aug. 29 when Ethereum was trading at $1,717. Since then, ETH has sharply dropped. Comments about the report noted that the “whale needs a better strategy!”
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | negative |
| Relevance Score | 8 |
| People | None |
| Companies | Ethereum, Binance, Grayscale, SEC, Lookonchain |
| Currencies | Ethereum, Bitcoin |
| Securities | None |
