Whale That Once Made $49M in Profits Loses $23.9M in 50,000 ETH Short Liquidation

BitcoinWorld Whale That Once Made $49M in Profits Loses $23.9M in 50,000 ETH Short Liquidation A cryptocurrency whale known for a remarkable streak of profitable trades has suffered a significant setback.

The address pension-usdt.eth, which had previously accumulated $49 million in profits across 23 consecutive winning positions, saw a 50,000 ETH short position worth approximately $106 million forcibly liquidated.

The liquidation resulted in a loss of $23.9 million, according to on-chain data. Details of the Liquidation The liquidation occurred on a major decentralized finance (DeFi) lending protocol, where the whale had opened a large short position on Ethereum.

A short position is a bet that the price of an asset will decrease. When the price of Ethereum moved against the position, the collateral backing the loan fell below the required maintenance margin, triggering an automatic liquidation.