ETH Drops Below $2200: Whale Hits $72 Million Profit on Short Position with 50x Leverage

On February 28th, COINOTAG News reported significant movements in the Ethereum (ETH) market. As ETH plummeted below $2200, a notable whale trader utilizing 50x leverage on the HyperLiquid platform has realized an impressive unrealized profit exceeding $72 million. This trader entered their short position at a price of $3218, capitalizing on the recent downward momentum in Ethereum’s value. This activity highlights the growing trend of leveraging in the crypto space, as traders seek to maximize gains during market volatility. The data was provided by LookIntoChain, a reputable source for tracking blockchain activities, reflecting the increasing sophistication and strategy employed by investors in the cryptocurrency landscape.