ETH's largest long position's unrealized loss doing a martingale to lower its average price, current position size is approximately $116 million

BlockBeats News, February 13th, according to Coinbob Popular Address Monitoring, on-chain data shows that the largest ETH long whale (0xa5b…) has reduced its position twice recently: on February 9th at $2035 and around $1960 on February 11th, selling a total of 7000 ETH (about $14 million) at a loss of $596,000. In the past 6 hours, the whale has gradually re-entered the market with an average price of $1919, engaging in swing trading.

The whale currently holds a 15x leveraged ETH long position, with a position size of 60,000 ETH, equivalent to about $116 million. The average entry price has decreased from $2059 to $2048, resulting in an unrealized loss of $6.27 million (-80%). The liquidation price is $1328, with $27 million in remaining collateral in the account.

Previously, on February 9th, the whale closed out its ETH long position held for about two months, resulting in a loss of approximately $9.63 million, before re-entering a similar position size of around 60,000 ETH.