From Conviction to Capitulation: Whale Liquidates 10,543 ETH Long, Burns $1.42M

What began as a confident long on Ethereum ended in a harsh lesson.

The whale behind wallet 0x348bb306e6887d244450cbb9fd608e7f8d0a40b4 had gone all-in over the past few days, leveraging up to $15M USDT to long a total of 10,543 $ETH at an average entry of $2,608.36.

But the market turned.

Ten hours ago, during the dip, the whale doubled down, borrowing an additional $5M USDT to buy 1,930 ETH—raising hopes of a bounce.

Instead, the worst happened: in the past hour, all 10,543 ETH were liquidated at $2,473.61, resulting in a painful $1.42M loss.

Some are calling it: “How to long #ETH from getting started to giving up.”

The whale’s move now stands as a cautionary tale on leverage—even for the pros.