According to BlockBeats On-chain Detection, AguilaTrades, a prominent whale contract trader, has commenced a short position on Ethereum (ETH) using 25x leverage. The trade is being executed through a Time-Weighted Average Price (TWAP) order and is expected to complete within three hours, targeting a total of 10,000 ETH, equivalent to a nominal value of $42 million.
The move follows AguilaTrades' recent closure of long positions in Bitcoin (BTC) and Ethereum (ETH), which resulted in a profit of $11.3 million.
