COINOTAG reported on August 26 that, per Amberdata monitoring, a $12.5 million long ETH position held by a single whale was liquidated amid the recent market downturn, leaving approximately $70,000 in remaining margin. The long ETH liquidation occurred across last night and this morning as leveraged exposure unwound during volatile trading.
Historically, the account had realized roughly $43 million in gains after a prior adjustment but absorbed a subsequent hit of about $6.86 million on liquidation. According to on-chain data, the position transitioned from a near $9.19 million unrealized profit early yesterday to an estimated $670,000 loss following the recent sell-off, underscoring concentrated counterparty risk in large leveraged ETH holdings.