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ETH Whale 0x8c58 Faces $26M Loss from Leveraged Short Position
Gate News bot message, A crypto whale identified as 0x8c58 has accumulated losses exceeding $26 million from a 20x leveraged short position on Ethereum. According to Lookonchain, the trader initiated the short position at approximately $2,969 on July 12.
In response to rising ETH prices, the whale deposited an additional 8.6M USDC into Hyperliquid within the past 24 hours to maintain the position. The liquidation price is now set at $5,002.3.
Source: Lookonchain