A major Ethereum whale, who had gained $1.029 million since April 13, recently faced a $382,000 loss from short selling ETH between April 22 and 25. Eleven hours ago, the trader borrowed 4,000 ETH from Aave and shorted it at $1,808.62 per ETH, totaling about $7.25 million.
However, rising ETH prices forced the whale to close the position at a loss, highlighting the risks of leveraged shorting in volatile markets.
This event underscores the importance of strict risk management for ETH traders amid unpredictable price swings and mixed market sentiment, with whales actively accumulating while others hedge through shorts
