Ethereum has been on a bearish trend for the past six weeks, but while many investors are suffering from the dips, one skilled trader has made nearly $16 million profit by betting against the price of ETH.
Now, discover how an experienced trader turned Ethereum's devaluation into a fortune!
Using a 50x leveraged short position, the trader opened his trade when $ETH was trading at $3,388, with a liquidation limit of $4,645. With this strategy, he was able to accumulate $15.7 million in unrealized profits, in addition to an additional $2.3 million in financing fees.