ETH Whale Takes High-Stakes Gamble, Risks Liquidation with $297M Leveraged Position

A high-net-worth Ethereum (ETH) trader has taken a high-risk gamble on ETH by utilizing 15x leverage. The whale, whose address is known as 0xa523, sold significant amounts of tokens like HYPE and Fartcoin before reinvesting the proceeds into a leveraged long position. While this move initially resulted in unrealized losses, the trader doubled down on their ETH exposure. This aggressive approach has seen them increase their position to over $297 million, prompting concerns about potential liquidation events.