The 120,000 ETH long positions held by a whale associated with Matrixport have already suffered a paper loss of over $69 million.

CoinFeed reported on June 5 that, according to Onchain Lens monitoring, as the price of ETH fell below $1,700, a Matrixport-affiliated whale holding a long position of 120,000 ETH (15 to 20 times leverage) is currently experiencing a floating loss of over $69 million and has already paid $1.86 million in funding fees.