Matrixport's long ETH position is currently floating with a loss of 16 million USD, with a loss ratio of -644%, which looks painful. The average price of 2243 is now 1696, with a liquidation line at 1172. The position size is 117.25B, and the largest on-chain long position is under tremendous pressure.

CoinWorld News: the unrealized loss on the ETH long position of Matrixport’s associated address (sub-address 2) has widened to $16.40M, with a loss ratio of -644.88%. The address’s average entry price is $2,243.12; the current coin price is $1,696.20; the liquidation price is $1,172.88; and the position size is $50.89M. The address has repeatedly received fund transfers from Matrixport (now renamed to Bit). It is currently the largest on-chain ETH long position, with two other associated addresses collaborating to build the position.