Ethereum Whale Nets $16.8M Shorting ETH as Price Drops

Quick Summary:

An Ethereum whale secured a $16.8 million profit by shorting ETH ahead of a sharp price correction.

Leveraging a 50x short position, the whale capitalized on Ethereum’s 5% price drop during a broader crypto market sell-off.  ETH briefly plummeted to $3,050, triggering over $81 million in long liquidations.

The market cap ratio is 6.2%, signaling heightened volatility.

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Article Details

Author / Journalist: Sindhu

Category: Crypto

Markets: United Arab Emirates

Topics: Ethereum Million Whale Drop Price February Average Support Bearish Crypto Market

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-02 @ 13:07:28 (13 hours ago)

News Timezone: GMT +0:00

News Source URL: thenewscrypto.com

Language: English

Article Length: 354 words

Reading Time: 2 minutes read

Sentences: 36 lines

Sentence Length: 10 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TheNewsCrypto

News ID: 25729941

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About TheNewsCrypto

Main Topics: Crypto

Official Website: thenewscrypto.com

Update Frequency: 15 posts per day

Year Established: 2020

Headquarters: United Arab Emirates

News Last Updated: 11 hours ago

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