A major whale has accumulated a short position of 44,000 ETH, currently incurring a floating loss of $3.08 million.

TechFlow News: On June 16, according to on-chain analyst Yu Jin (@EmberCN), a whale address increased its short position following Ethereum’s recent rebound—borrowing an additional 9,000 ETH from Aave and transferring it to Binance, then withdrawing $16.37 million in USDT to complete the sell-off. This address has now accumulated a total short position of 44,000 ETH (valued at approximately $78.89 million), with an average short entry price of $1,702. As ETH’s price rises, the current unrealized loss stands at roughly $3.08 million.