A whale, as recorded by Lookonchain, has opened a short position in ETH and a long position in BTC, with sizes of 23,151 ETH and 323.72 BTC respectively.
The address 0x50b3 is believed to have opened a 25x leveraged Short ETH position worth $50.55 million, and a 20x leveraged Longing BTC position worth $25.27 million.
The Short ETH position is 23,151 ETH, while the Longing BTC position is 323.72 BTC. No further details are available regarding the order opening times beyond those recorded on May 17th.
This move indicates that the same trader is placing two different orders on the two largest market assets, with significant notional sizes in both positions.
