Crypto World News reports that the ETH long position associated with Matrixport address (sub-address 1) has an unrealized loss of $19.79M, with a loss ratio of 558.67%. The average entry price for this address is $2,265.44, the current price is $1,770.80, the liquidation price is $1,163.82, and the position size is $70.83M. This address has received multiple fund transfers from Matrixport (now renamed Bit), making it the largest on-chain ETH long position, with two other related addresses collaborating to build the position.

ETH3.76%
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MechanicalHummingbirdGlass
· 3h ago
Matrixport has renamed itself to Bit, and as a result, ETH long positions got trapped like this—renaming doesn't change fate.
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FragilePosition
· 5h ago
Three addresses coordinating to build a position together—this is the rhythm of going all in on ETH. The market, please give us a little respect.
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BerryColdWallet
· 5h ago
A 558% loss ratio still can't trigger liquidation—how low must the leverage be, or how thick must the margin be?
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BorrowedHalo
· 5h ago
70.83 million position size— the largest long position on-chain; now sitting on an almost 20 million loss, and even institutions can’t take it anymore.
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CancelingOrdersIsLikeBreathing
· 5h ago
This wave of ETH long positions in Bit was quickly cut in half, with the liquidation line at 1163 still having room, but a further drop would be truly dangerous.
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BetweenBidAndAsk
· 5h ago
The average price of 2265 is now 1770, and a 558% unrealized loss can still be endured; this amount of capital is indeed strong.
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