#EthereumWhales High-Leverage Disaster: Ethereum Whale Loses $2.96M in 48 Hours

In a stark reminder of the perils of high-leverage and emotionally driven trading, an Ethereum whale behind wallet address 0xcddf has seen his fortune shrink from $2.96 million to just $250,000 — a staggering 90% loss in only two days.

As revealed by on-chain analyst Yujin, the meltdown began on May 18, when the trader opened an enormous short position: 41,851 ETH at $2,514 using 25x leverage. With a razor-thin liquidation level at $2,525, the bet was high-stakes and left little room for error.

Unfortunately, ETH began climbing soon after the position was opened, triggering a cascade of stop-losses and ultimately liquidating the trade. The result? A devastating $2.46 million loss.

To add insult to injury, ETH reversed direction shortly after he was forced out — a cruel twist that underscores the unpredictability and risk of leveraged crypto trading.$ETH