ETH Rebounds to Save Whale With $88.5 Million Unrealized Loss, $270 Million Long Position Fully Recovers

BlockBeats News, August 20th, according to TradingBeats monitoring, the "BIT Whale" that was previously underwater by about $88.5 million saw the price returning to near its cost level as it held 120,000 ETH without selling a single coin.

As of the time of writing, the whale still holds a total of about 120,000 ETH across four addresses, with a position value of approximately $271 million and a consolidated average entry price of $2,261.23.
With the rebound of ETH, its position was almost entirely out of the red this morning. Currently, with a slight pullback, the total unrealized loss is about $108,000. The entity has been holding the positions since the initial entry, continually adding to the margin, and enduring the nearly $88.5 million paper loss, waiting for a price recovery. Its recent liquidation price has dropped to around $1,195.95, considering the approximately $4.9 million funding fees paid cumulatively since the opening.

The whale has not yet fully recovered its initial investment; however, in terms of price, the unrealized loss has been almost completely offset.