A well-known crypto whale has made a big move against Ethereum, opening a $62.42 million short position using 18x leverage. The trader, identified by the wallet address “0x2258…”, is betting heavily that ETH won’t climb anytime soon—and so far, the gamble is paying off.
Based on blockchain data monitored via Hyperdash, the whale shorted 20,474 ETH at an entry point of $3,060. As ETH has been trading at levels lower than $3,000 at the time of writing, the whale is already enjoying an unrealized profit of approximately $1.14 million, or returns of 30%.
Ethereum Under Pressure Below $3,500
Trending: BREAKING: Democrat Lawmaker ARRESTED For Drunk Driving & Fleeing Scene of Accident
The liquidation value of the position is at $3,505 — near where ETH traded previously in January 2025. That point is now serving as very powerful resistance.
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!