Whale Trader Shortens 10,000 ETH at $1,791 Amid Floating Loss of $510,000

In a recent update from COINOTAG News dated May 1st, it has been reported by ChainNews that a significant player in the market, identified as a whale, has executed a short position on Ethereum (ETH). This investor initiated a short of 10,000 ETH at an average valuation of $1,791, which has resulted in a floating loss estimated at $510,000. Furthermore, within a narrow timeframe of just one hour, this entity increased its exposure by shorting an additional 4,000 ETH. This strategic movement raises questions regarding market sentiment and potential implications for ETH prices amid ongoing volatility in the crypto space.