A whale investor is on the brink of liquidation on Thursday after failing to secure profits worth $4.25 million on an Ethereum (CRYPTO: ETH) short bet.
Opportunity Gone Begging On ETH Short
The trader, who was successful in their previous trades, took a 15x leverage bet on ETH, Lookonchain reported, citing data from HyperDash. The leverage boosted their position to $259.17 million, with an entry price of $3,618.30.
However, the market moved against them as ETH reversed the pullback. As of this writing, the whale was down a whopping $6 million on the bet and facing liquidation at $3,724, which was only 0.5% away.
The unsuccessful bet reversed the investor’s gains from their last three trades, resulting in a net unrealized loss …