2026-01-21 00:56:44

ETH has rapidly plummeted from over $3300 a few days ago to below $3000, and the whale who invested $230 million in long positions has also been affected. The account went from an unrealized profit of $56 million to an unrealized loss of $50 million, evaporating $106 million in just a few days.

What’s even more heartbreaking is that the liquidation price for this $660 million ETH long position is stuck at $2,263. There is now a buffer of $700 before hitting the liquidation line. The market is once again pondering whether it’s time to prepare for "scavenging the fallen." This kind of situation where large funds are trapped often attracts a wave of spectators looking to join the chaos.

ETH-5,36%

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gas_fee_therapist

· 4h ago

Oh my god, 106 million just disappeared like that. How bold is this whale? --- Waiting to see if $2263 can hold, or else another wave of bloodshed. --- That's why I never go all-in; a floating profit of 56 million turns into floating loss. The reversal was too extreme. --- Is the opportunity to pick up the pieces coming? Or should we first see if this whale can withstand the pressure? --- $700 of buffer space... feels risky. Waiting for a margin call showdown.

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fren.eth

· 4h ago

Damn, this whale is too unlucky. $106 million just disappeared like that? Almost had to face a liquidation order.

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ZKSherlock

· 4h ago

actually, this is a perfect case study in why leverage without proper risk modeling is just... bad cryptographic thinking? like, the whale had zero information-theoretic security margins here. $700 buffer on a $6.6B position? that's not a strategy, that's a trust assumption waiting to fail lmao

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fren.eth

· 5h ago

Damn, a long position instantly lost 100 million. That's why I don't dare to go all-in.

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BrokenDAO

· 5h ago

This is a classic case of incentive distortion. Once large positions are formed, they automatically become the market's "governance anchor," but are instead manipulated in the opposite direction by the market. Human nature always underestimates the systemic risk of one's own position. A liquidation price buffer of only 700 yuan? This is not trading; it's a casino. Interestingly, everyone knows there will be people picking up the scraps, but no one can change the rules of this game—the mechanism itself rewards this kind of predation. Evaporating from 230 million to 106 million is just the market doing what it’s supposed to do, and I don’t find it surprising.

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MetadataExplorer

· 5h ago

Damn, this whale buddy is really trapped and dead. 106 million just gone like that? From unrealized profit directly to unrealized loss, how much mental breakdown does that take... $2263 this liquidation price is a bit brutal, feels like dancing on the edge of a knife Waiting to see what happens next, this large capital outflow might trigger a chain reaction Is there anyone betting it can hold on... feels uncertain

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