"Whale 1011" Incurs Floating Losses on $383M Leveraged ETH Long Positions

Data from Hyperinsight on Dec. 11 show that as Ethereum fell below $3,200, an entity known as "Whale 1011" incurred losses on 120,094 ETH in 5x leveraged long positions, worth approximately $383 million. The current floating loss is $200,000, compared to a floating gain of $16.8 million the previous day. The whale has progressively added to its holdings, increasing the average entry price to $3,177.89.