A crypto whale has placed a massive 50x leveraged short position on Ethereum ($ETH) and is currently sitting on an unrealized profit of approximately $81 million, as per data from Lookonchain.
The whale entered the short at an average price of $3,212.53 per ETH and has accumulated a total position size of -67,787 ETH.
With the current price dropping to around $2,061.3, the trade has resulted in significant gains.
This high-risk, high-reward move highlights the volatility of the crypto market and the massive profits whales can generate through leveraged trading.
