Giant Whale's long position lost more than one million US dollars

According to on-chain data monitored by Lookonchain, a certain whale chased the price after Grayscale won the lawsuit and opened long positions in Bitcoin and Ethereum on the decentralized derivatives trading platform GMX. The average opening prices were US$27,700 and US$27,700 respectively. $1,717.

But so far, the market has not risen as he expected. Instead, the gains have been flattened by the SEC's extended review of ETFs, causing the whale to have to add margin to avoid being liquidated. Currently, the liquidation prices of its Bitcoin and Ethereum positions are US$25,084 and US$1,571 respectively, with a floating loss of US$1.18 million. In March this year, the address also lost more than $4.5 million on a long Ethereum order.

Failure to chase the rise, decisively admit loss

On the other hand, according to data from on-chain data analyst Ember Monitor, the giant whale that chased up the purchase of 10,000 ETH at an average price of 1,714 on August 29 also took the loss today. On-chain data shows that it sold 12,000 ETH at an average price of $1,648, losing about $790,000 in this round of transactions. It’s worth mentioning that Lookonchain pointed out that the address has been “buying high and selling low” in recent rounds of transactions, and its performance has been unsatisfactory.

Take advantage of the dip

There are whales that suffer in the falling market, but there are also whales that continue to take advantage of the downturn in the market. Data on the chain shows that an address of 9 million ARB tokens was previously withdrawn from Binance Exchange in July. Taking advantage of today's record low of ARB, 2.11 million ARB tokens were withdrawn from Binance again. The average cost was initially estimated at US$1.18. , the current floating loss is approximately US$3.3 million.

8 hours ago, $ARB fell to a new low: $0.9009. This whale, who withdrew $9 million ARB from Binance in July, subsequently withdrew 2.11 million ARB ($1.93M) from Binance. The whale address currently holds 12.7 million ARB ($11.7M), with a possible average cost of $1.18. The current floating loss is $3.35M (-22%). https://t.co/srLGJzHT0i The tweet is sponsored by @Bitget_zh https://t.co/zQi0LhX2Fr pic.twitter.com/6qsLtkSVL8

— Ember (@EmberCN) September 1, 2023

This article has a sharp rise and fall in long and short news! The giant whales on the chain are also suffering: they failed to chase the increase, and they rushed out after admitting losses. First appeared in Zombit.