Last Friday, that high-leverage whale who shorted ETH correctly guessed the market move. This morning between 7-8 AM, the market suddenly crashed, and his short position currently has an unrealized profit of $1.7 million. Even more impressively, he added to his position half an hour ago—now his short position has reached 30,639 ETH (worth $98.51 million), with an average opening price of $3,271, and a liquidation price set at $3,296.

The leverage ratio of this position appears to be quite aggressive. Although the unrealized profit is substantial, the distance between the liquidation price and the current price isn't as comfortable as one might think. Judging by his recent addition to the position, this whale clearly bets that there is still room for further decline. His willingness to add to his short position after the market suddenly crashed shows he’s quite bold.