Ethereum Whale on Brink of $26 Million Loss As Leverage Bet Turns Costly
The post Ethereum Whale on Brink of $26 Million Loss As Leverage Bet Turns Costly appeared on BitcoinEthereumNews.com.
One of the largest and riskiest short positions on Ethereum (ETH) in recent memory is teetering on the edge of disaster. The case highlights the risks of high-leverage bets, mirroring experiences known to traders like Andrew Tate and James Wynn. Whale’s Bet Against Ethereum Digs Deeper: From $10.7 Million to $26 Million in Red Lookonchain has been tracking whale address 0x8c58 for a while now. According to the blockchain analytics account, the large holder faces an unrealized loss exceeding $26 million on a massive 20× leveraged short against ETH. According to Lookonchain’s latest update, the whale will be liquidated when ETH hits $5,002.3 unless more margin is added to his position on decentralized derivatives exchange Hyperliquid. Whale 0x8c58, who shorted $ETH at 20x leverage, has lost over $26M! If he doesn’t add more margin in time, he will be liquidated when $ETH reaches $5,002.3.https://t.co/d67B8Z2b53 pic.twitter.com/ierjNvWkAg — Lookonchain (@lookonchain) August 13, 2025 As of this writing, Ethereum was trading for $4,636, up by over 8% in the last 24 hours. This means whale address 0x8c58 is just over 7% away from liquidation. Ethereum (ETH) Price Performance. Source: BeInCrypto The saga began on July 12, when 0x8c58 entered the short at roughly $2,969 per ETH. By July 18, barely a week afterwards, ETH’s price surge had left the position down over $10.7 million. This compelled the whale to inject $3.58 million USDC to push the liquidation price to $4,006.2. The losses mounted through August. On August 10, Lookonchain reported another $8.6 million USDC deposit, extending the liquidation level to $4,885.3. However, Ethereum’s relentless climb has erased that cushion. As of today, the whale’s red ink stands at $26 million. Allure of Textbook Leverage Traps High-leverage trades on platforms like Hyperliquid have been making headlines for months. In a recent BeInCrypto report, other…
Filed under: News - @ August 13, 2025 9:26 am