New High-Leverage Short Positions Leave $1.4 Million Floating Loss in Crypto Market

A recently formed crypto wallet has incurred a significant floating loss of $1.44 million due to aggressive leveraged short positions on Ethereum and ENA tokens. The wallet withdrew $4 million USDC from Coinbase, which it then used to open 10x leveraged shorts on ENA and 15x leveraged shorts on ETH. This move has left market observers concerned about potential liquidity issues within the crypto ecosystem as such high-leverage positions often impact broader market stability.