Do you remember when CZ tweeted to pump ASTER? At that time, a whale shorted ASTER and had already taken profit and left. But this guy's moves on ETH are even wilder—by December 4th, his long position of 52,353.9587 ETH opened at the 3,201 mark actually climbed back up to the entry price.
How did he get this position? By rolling over his position. At the peak, this whale accumulated a total of 60,000 ETH, but got force-liquidated by the exchange for 7,648 of them. A few days ago, when ETH plummeted to as low as 2,620, his book loss hit $30 million. The liquidation price? It was initially set around 2,500, but after things started looking bad, he quickly added more margin, dragging the liquidation line down to around 2,340.
What’s crazier is, there’s still an XRP long sitting in this account. Calculating it all, at the lowest point, this guy was floating a total loss of $50 million. What was he doing then? Was he still able to sleep? Or is this kind of money just pocket change to him?
There’s something strange: he got liquidated for 7,648 ETH, right? Logically, if it wasn’t intentional dumping, then why didn’t other whales go after the remaining 50,000+ ETH? Now he’s even starting to make a $520,000 profit...
Could it be like this—he let those 7,648 ETH get force-liquidated on purpose, creating panic, making retail investors think ETH would fall below 2,300, trapping everyone at the bottom, when in reality it was all a setup? This logic sounds shady, but it’s not entirely impossible.