Ethereum Whale Takes $1.96M Loss, Stays Long on $100M Position

An Ethereum whale has incurred a significant loss after closing part of their position, but still holds onto a substantial $100 million ETH position.

The account, tracked under the Machi label, closed some trades about seven hours ago as the market declined. The total loss from these closed trades was around $1.96 million.

Despite this loss, the whale still holds 41,000 ETH worth approximately $100.01 million in an open trade, aiming to profit from a potential increase in Ethereum's price. This discrepancy highlights the account's overall bullish stance.

The total crypto exposure of the account is around $109.6 million, with other assets including 75,000 HYPE and 45 BTC also listed as part of bullish trades.