Ether whales are currently making significant leveraged investments despite troubling geopolitical events affecting the cryptocurrency market. One prominent investor has taken a long position in Ether worth over $101 million, using 25x leverage at an entry price of $2,247. This position has already generated approximately $900,000 in unrealized profits, but it comes with risks, including over $2.5 million in funding fees and potential liquidation if Ether's price drops below $2,196.
This move follows a period of decreased Ether prices, which fell to a one-month low of $2,113 following U.S. airstrikes on Iran's nuclear sites. While President Trump referred to the attacks as a significant military success, the ongoing conflict adds a layer of uncertainty for investors. Data reveals that another whale also pulled out $40 million worth of ETH from Binance, slightly increasing the aggregate to $112 million in holdings, suggesting some investors may be looking to secure their positions amid the volatility.
Market sentiment appears cautious, with many traders anticipating a further correction. Currently, around 64% of top cryptocurrency traders are shorting Bitcoin and Ether, indicating a bearish outlook. Nicolai Sondergaard, a research analyst at Nansen, highlights that the majority of Ether investors are in a wait-and-see pattern due to persistent geopolitical and economic uncertainty, stating, "We still have a lot of market uncertainty, whether it's macro or war."
In light of these developments, Binance research suggests the market may be facing broader corrections influenced by these geopolitical events. Furthermore, the total staked Ether supply reached a record high of over 35 million, signaling that many investors may prefer to hold their Ethereum for passive yield rather than selling at current prices.
This move follows a period of decreased Ether prices, which fell to a one-month low of $2,113 following U.S. airstrikes on Iran's nuclear sites. While President Trump referred to the attacks as a significant military success, the ongoing conflict adds a layer of uncertainty for investors. Data reveals that another whale also pulled out $40 million worth of ETH from Binance, slightly increasing the aggregate to $112 million in holdings, suggesting some investors may be looking to secure their positions amid the volatility.
Market sentiment appears cautious, with many traders anticipating a further correction. Currently, around 64% of top cryptocurrency traders are shorting Bitcoin and Ether, indicating a bearish outlook. Nicolai Sondergaard, a research analyst at Nansen, highlights that the majority of Ether investors are in a wait-and-see pattern due to persistent geopolitical and economic uncertainty, stating, "We still have a lot of market uncertainty, whether it's macro or war."
In light of these developments, Binance research suggests the market may be facing broader corrections influenced by these geopolitical events. Furthermore, the total staked Ether supply reached a record high of over 35 million, signaling that many investors may prefer to hold their Ethereum for passive yield rather than selling at current prices.
