Ethereum Whale Short Position Cut to Avoid Liquidation Amidst Market Volatility

An Ethereum whale associated with the now-defunct Three Arrows Capital (3AC) has recently reduced its significant short position, aiming to prevent potential forced liquidation in a volatile market. The whale, previously dormant since 3AC’s peak activity, is actively divesting from their ETH holdings. With a reported 9,923.29 ETH worth $25.4 million currently held in shorts, the recent move reflects potential concerns about price drops exceeding the liquidation threshold of $2,577 ETH.