ETH Whale's Swing Trading Results in Millions in Losses, Holding Over $116M in Position

Overview of ETH Whale's Operations

Recently, a major ETH whale (address 0xa5b...) executed two rounds of selling. On February 9, the whale offloaded ETH at $2035, followed by further selling at around $1960 on February 11. In total, the whale sold 7,000 ETH, worth approximately $14 million, incurring a loss of $596,000.

Replenishing Position and Swing Trading

In the past 6 hours, the whale has gradually repurchased ETH at an average price of $1919, aiming to lower the average cost of its holdings. The whale now holds a long position of 60,000 ETH, worth around $116 million, with an average price of $2048. The unrealized loss stands at $6.27 million, and the liquidation price is set at $1328. The account still holds $27 million as collateral.

Prior Trading Activity

Previously, on February 9, the whale closed out its ETH long position held for two months, incurring a loss of approximately $9.63 million. Shortly after, the whale began building a new position, comparable in size to its current holdings of around 60,000 ETH.