Whale Moves to GMX: $15 Million Profit and $45 Million Short Positions on ETH Revealed

In a recent development reported by COINOTAG on March 13th, the notable “Hyperliquid 50x Leverage Whale” has transitioned to utilizing GMX for trading after realizing profits exceeding $15 million. According to tracking data from ai_9684xtpa, this whale has strategically deposited 4.09 million USDC as collateral on GMX. Shortly thereafter, the whale initiated two short positions on Ethereum, employing leverage ratios of 17.6 and 18.06, culminating in a total position size of approximately $45.17 million. The first short position was established at an entry price of $1885, with a liquidation threshold set at $1982, while the second position had an entry price of $1892 and a liquidation price at $1992. This tactical move underscores the ongoing volatility in the Ethereum market.