The anonymous trader who accurately predicted the sharp decline in the price of Ethereum has drawn attention by generating over 9.37 million dollars in unrealized profit.
The cryptocurrency market has experienced deep fluctuations recently due to increasing tensions between Iran and Israel. In particular, Ethereum saw a rapid decline from around 2,600 dollars. However, some investors who anticipated this sharp drop in the market and took positions made significant gains. One of them was the trader '0xcB92'.
Trader 0xcB92 drew attention with his large short position against the decline in Ethereum. On June 11, this trader increased his short position by investing 3.37 million USDC and had raised his position to a total of 40,000 ETH (worth approximately 114 million dollars). At that time, he was about 2.5 million dollars in the red, but recent developments in the market worked in his favor, and his unrealized profit has now reached 9.37 million dollars.
This major move by the trader carried the risk of liquidation if the price of Ethereum rose to 2,938 dollars. However, with Ethereum sharply declining due to geopolitical tensions, the trader's risky position turned into high profit. In the cryptocurrency community, this bold move by the investor is being closely monitored in terms of market strategies.
Twitter Post: Trader 0xcB92, who foresaw the collapse of Ethereum, made 9.37 million dollars through his short position, becoming the center of attention in the market!
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