Whale Rakes in $80.9M by Shorting ETH with Leverage, Strategy Revealed

Whale's ETH Shorting Strategy Unveiled

According to a recent report by blockchain analytics platform Lookonchain, a crypto whale identified by the address 0x20c2 has generated over $80.9 million in profit by shorting Ethereum (ETH).

Since early 2024, this trader has been aggressively building short positions on Hyperliquid, consistently utilizing extreme leverage — peaking at 50x and currently maintained at 25x.

Position Details and Trading Insights

The trader currently holds a short position worth 30,582 ETH, valued at approximately $88.9 million at current market prices.

• Trader ID: ETHMegaBear (0x20c2)
• Total Profit: Over $80.9 million
• Current Short Exposure: $88.9 million
• Trading Platform: Hyperliquid
• Leverage Used: Up to 50x historically, now at 25x

This development has reignited discussions about leveraged trading risks and sophisticated market strategies employed by professional traders.