Recent market activity has attracted attention from major players, particularly one whale making a significant bet on Ethereum.
Investment Size and Risks
The whale at address 0xa523 has added **20,800 ETH** to its long position over the past 15 hours, valued at approximately **$92.8 million**. Entry points were at **$4,470** and **$4,450**, indicating a strong belief in Ethereum's potential upside.
Dangerous Strategy and Previous Losses
This whale is no stranger to risky trades, having reported a loss of over **$23 million** just last week due to a poorly timed long position. Despite this setback, he remains undeterred in his bullish stance on ETH.
Is the $5,300 Target Realistic?
On-chain data indicates the whale has set a take-profit target at **$5,300**, signifying expectations for a significant rally. However, with a liquidation price of **$4,297.67**, this gamble appears extremely precarious given current market volatility.
Traders and observers are closely monitoring the market to see if this aggressive move will yield profits or lead to another costly loss.
