A major whale profited $594,000 from shorting ETH, and subsequently opened a long position of 36,000 ETH with 20x leverage.

CoinFeed reported on June 11 that, according to Lookonchain monitoring, a whale that made a profit of $1.2 million in two hours is still trading ETH, and subsequently shorted ETH for another $594,000. Currently, it has a 20x long position of 36,097 ETH ($58.8 million), with a liquidation price of $1,531.9.