Ethereum Whale Profits $24.48M by Covering 66,000 ETH Short and Buying ETH on Binance With USDC Collateral

ETH

ETH/USDT

$1,930.97

+0.69%

$1,930.97

+0.69%

(24s)

24h Volume

$15,764,184,570.61

24h H/L

$1,937.17 / $1,835.36

Change: $101.81 (5.55%)

Long/Short

75.8%

Long: 75.8%Short: 24.2%

Funding Rate

-0.0004%

Shorts pay

Data provided by COINOTAG DATALive data

Ethereum

Daily

$1,903.05

▼ -1.39%

Volume (24h): -

Resistance Levels

Resistance 3$2,148.57

Resistance 2$2,063.45

Resistance 1$1,976.06

Price$1,903.05

Support 1$1,889.43

Support 2$1,746.27

Support 3$1,285.50

Pivot (PP):$1,891.86

Trend:Downtrend

RSI (14):38.0

COINOTAG News, citing on-chain analyst Yu Jin, notes that a whale or institutional actor borrowed 66,000 ETH on October 20 to establish a short position and repaid the loan yesterday, locking in an estimated profit of $24.48 million. The trade underscores persistent leverage activity in the ETH market and the role of on-chain signals in dictating risk appetite.

From last night through this morning, it transferred 482 million USDC to Binance and withdrew 144,255 ETH, with an average price near $3,341. The USDC used as collateral for the prior ETH short run was originally 700 million USDC, borrowed to back 66,000 ETH; following repayment, the collateral was redeployed to acquire additional ETH.