After losing $8.8 million by closing out its long positions in Ethereum, a whale reopened a long position with 20x leverage.

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According to TechFlow TechFlow, on February 9th, Lookonchain, an Ethereum whale address "0xa5B0" closed its long Ethereum position after holding it for more than 70 days, incurring a loss of $8.8 million.

The address then immediately opened a new long position with 20x leverage, totaling 60,000 ETH (approximately $122.2 million). This new position is now showing a floating loss of over $1.4 million.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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