Whale Liquidations Spike: ETH Long Positions Hit Over $2 Million in Losses

On August 20th, **COINOTAG** reported a significant event in the crypto market involving a **$125,000 liquidation** of an Ethereum (ETH) long position, reducing the whale’s total holdings to approximately **$6.99 million**. Analysis of on-chain data reveals that two addresses controlled by this entity have faced relentless liquidation pressures, with their principal diminishing to under **$2 million**. Presently, the long positions are noteworthy: one address holds a **25x long** position of **2,458.57 ETH** with an entry price of **$4,334.10**. This position is now at risk of liquidation at **$4,173.50**, reflecting a floating loss exceeding **$400,000**. The second address is significantly affected, carrying a **15x long** of **11,516.70 ETH** at an entry price of **$4,315.19** and a liquidation threshold of **$4,170.00**, showcasing an alarming floating loss surpassing **$1.66 million**. This scenario underscores the volatility risks inherent in leveraged trading within the Ethereum market.