A leveraged Ether (ETH) short carrying $32.72 million in exposure was fully liquidated after a price rebound, leaving the trader with a reported $1.11 million loss, on-chain analyst EmberCN said.
According to EmberCN, the trader took a 13,830 ETH short on Oct. 19 at $2,366. The $32.72 million measured the size of the position, while the reported loss reflected a decline in account capital. EmberCN estimated that the account had about $140,000 left after liquidation, down from $1.25 million over two days.
Lookonchain separately reported multiple earlier liquidations involving a wallet it identified as 0xb15b. EmberCN said the trader increased the position on Oct. 20 at $2,387, after ETH had pulled back, and had no stop-loss order. A subsequent rebound liquidated the remaining position, the analyst said.
A short position seeks to profit from a price decline. Adding to this leveraged trade increased the trader’s exposure before Ether rebounded, leaving the trader to bear the reported loss.
