Ether Whale Books $45M Loss as ETH Falls Below $4K
Ether's price decline was part of a broader market downturn amid concerns of a potential U.S. government shutdown.
- The whale's address, 0xa523, saw its balance drop to under $500,000 following the liquidation of 9,152 ETH.
- Ether's price decline was part of a broader market downturn amid concerns of a potential U.S. government shutdown.
An ether whale took a multi-million dollar loss on its bullish bet on Thursday after the cryptocurrency's price dipped below $4,000 for the first time since Aug. 8.
The whale address labelled 0xa523 had its leveraged bullish position worth 9,152 ETH ($36.4 million) forcibly liquidated by the decentralized exchange Hyperliquid, according to blockchain analyst Lookonchain. This liquidation pushed the whale’s total losses beyond $45 million, leaving its balance below $500,000.
Ether's price hit a low of $3,983 during the Asian hours as the broader cryptocurrency market, including bitcoin , wilted amid an increased likelihood of a U.S. government shutdown this year.
About $100 million in leveraged bets were liquidated during Asian trading hours, with over $90 million involving bullish positions, according to data source Coinglass. This data suggests that leverage was predominantly tilted toward the positive side, betting on ether price appreciation.
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Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters:
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
