According to Onchian Lens, the whale address 0xcb9 recently opened a 25x short position on ETH, which resulted in a profit exceeding $20 million, but failed to close the position. Currently, with the surge in ETH prices, its short position has turned from a profit exceeding $20 million to a loss of $15.8 million.

Currently, the whale still holds a short position of 12,500 ETH, with a floating loss of US$3.4 million.