On January 9, on-chain data revealed a major whale address made strategic adjustments to its leveraged positions in Ethereum (ETH) and related assets. The address currently holds approximately 9,862 ETH at 25x leverage, valued at nearly $30.8 million, but is already facing a floating loss of $232,000.
The Risk Behind Aggressive Leverage Bets
In addition, the address holds a 10x leveraged long position in 272,000 units of a trending asset (worth ~$7.1 million), incurring an additional $18,000 in losses, bringing total unrealized losses beyond $250,000.
Amid rising market volatility, such high-leverage moves reflect strong market conviction but also expose significant liquidation risks.
- Leverage magnifies gains — and losses
- On-chain activity signals shifting sentiment
- Position management becomes crucial in extreme markets
Analysts suggest the recent reduction may be a risk mitigation tactic rather than a bearish signal. As ETH tests key support levels, the battle between bulls and bears intensifies.