According to BlockBeats On-chain Detection, recent attempts by a whale to short Ethereum (ETH) have been unsuccessful. In the past 50 minutes, the whale borrowed 5,000 ETH, valued at approximately $12.45 million, from a decentralized finance platform and shorted it at a price of $2,491.
Previously, the whale had shorted 10,000 ETH but closed the position before a significant price surge, incurring a loss of $430,000. If the position had remained open, the losses could have escalated to $7 million.
