Not All Whales Make Money; This One Lost $5M During Market Crashes

Popular crypto markets sleuth Lookonchain has tracked a whale that has lost about $5.1 million in the last two market crashes.

However, after entering the long positions, the markets took a downturn, liquidating the whale’s Ethereum holdings.

For instance, when ETH dumped in July from over $1.86k to below $1.7k, the whale was liquidated, losing $3.8 million in just that one long position. Lookonchain also tracked another long position about 13 days ago. In the period, the whale entered the market when Ethereum was seemingly recording upsurges but was liquidated when the asset dropped to about $1.62k. In the second case, the whale lost about $1.289 million.However, the whale still seems undeterred even when recording the big losses. On Aug.

against SEC in court; the trader reentered the market with a long when the second-largest crypto traded at about $1,717. Since then, ETH has sharply dove.

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