A Whale Story: Investing or Gambling?
As Ethereum broke the $2,300 mark, on-chain data revealed a big move.
It entered a $6.9 million 25x leveraged ETH long position.
Entry price: $2,344 | Instant price: 2,348$
But the picture is not limited to this...
With losses of -1.1 million $ in the last 30 days, -900 thousand $ in the last 7 days and -297 thousand $ in the last 24 hours, the total all-time loss has reached 1.78 million $.
Why continue with such risky trades despite such huge losses?
Do you think this position is part of a major turnaround effort? Or is it a panic move trying to recoup past losses?
Either way, eyes are increasing the pressure on this whale.
