A whale once again lost $3.42 million by going long on ETH. In the past five months, he went long on ETH four times and failed repeatedly.

PANews reported on August 5 that according to monitoring by on-chain analyst @ai_9684xtpa, the whale that lost $4 million on leveraged long ETH in April 2024 suffered another loss of $3.42 million in a new round of leveraged longs.

The whale has been long ETH four times in the past five months and has been defeated repeatedly, with a cumulative loss of more than $8.22 million. The whale traded ETH through Compound from May 17 to July 19, with an average price of $3,138. In the past 13 hours, the price of the coin continued to fall, and he was forced to sell 4,707.5 ETH (about $11.34 million) to close his position, with an average selling price of $2,410.