The giant whale continues to cut losses, holding 5,094 ETH, with a cumulative loss of 40 million dollars in ETH

ChainCatcher news, according to monitoring by @EmberCN, the ETH price has plummeted sharply. A whale that went long on ETH through a loop loan sold 5,094 ETH at an average price of $1,471 to avoid liquidation, obtaining approximately $7.49 million USDT to repay the loan, reducing the liquidation price of its Aave position to $1,246.

Previously, on March 11, this whale also sold 25,800 ETH at a loss during the ETH crash, realizing a single loss of up to $31.75 million. The two operations have resulted in an accumulated realized loss of approximately $40 million on ETH.

It is reported that this whale built a leveraged position in ETH at an average price of $3,084 in July 2024 and still holds about 30,000 ETH on Aave, with risks remaining high.