The ETH short position of a certain ETH band whale has been closed, with a profit of $2.79 million

According to the monitoring of on-chain analyst Yu Jin, the ETH short position of a certain ETH band whale has been closed, and the ETH buying loss this time has gone from a floating loss of US$5 million to a profit of US$2.79 million. In addition, the investor has made a total profit of more than US$10 million through 25 band operations (20 profitable and 5 losses). The process of this ETH short-selling operation: 1. He borrowed ETH from Aave and sold it to short ETH from the 2nd. By continuously adding positions, he finally shorted 21,600 ETH, with an average short-selling price of US$3,458. The value of the entire position is as high as US$120 million. 2. However, the market conditions in the past few days were good. ETH has been rising, and finally rose to US$3,700 in the early morning of the 7th. At that time, his short-selling position had a floating loss of US$5 million (his position health rate was only 1.1 at the time, and his position would be liquidated if ETH broke through US$4,000). 3. The market turned on the evening of the 7th, and the market fell. The position recovered in the early morning of the 8th. After recovering the cost, he unloaded half of the position to prevent ETH from rising suddenly and continuing to be trapped. 4. Today the market continued to fall, and the investor also closed the other half of the position. In the end, his ETH short selling went from a floating loss of 5 million US dollars to a profit of 2.79 million US dollars.