Ethereum Trader Scores $58 Million Profit from 50x Short Bet

A prominent Ethereum trader is realizing a significant unrealized profit of over $58 million following a short sale at the $3,220 price point. This massive gain comes courtesy of leveraging an impressive 50x position. As ETH prices have plummeted to their lowest levels since September 2024, reaching around $2,453.70 from a recent low of $2,337, the trader’s short position has surged in value, allowing them to capitalize on the broader market decline. This strategy underscores the volatility and potential for large profits within the cryptocurrency space. 50x leveraged trading offers both high risk and reward.