Ethereum Whale Increases Short Position Amid Potential Liquidation Risk

A significant Ethereum short position held by a large investor, tracked through Lookonchain monitoring, has seen an increase in holdings. The whale’s recent addition of 3.37 million USDC to their short portfolio brings the total to 40,000 ETH. However, this increased exposure presents them with the risk of liquidation should Ethereum’s price surge past $2,938.2. With unrealized losses exceeding $2.5 million, if the price of ETH continues to rise, the short position could be forced to close due to a potential margin call.