A $32.72 Million ETH Short Is Liquidated, Leaving Wallet Down $1.11 Million

A wallet’s $32.72 million Ether (ETH) short was fully liquidated after the trader added to the position during a price pullback. The wallet lost $1.11 million over two days.

The wallet began the leveraged trade on Oct. 19, shorting 13,830 ETH at $2,366. The position was valued at $32.72 million. The trader had no stop-loss order and added to the short when ETH pulled back to $2,387 on Oct. 20.

A rebound later Tuesday morning ET (Tuesday evening in China) triggered the liquidation of the entire position. The wallet’s capital fell from $1.25 million to $140,000, a drop of $1.11 million over two days.

The $32.72 million figure represents the size of the short exposure, while $1.11 million was the reported loss. The wallet ended with $140,000 in capital after the position was closed. The account had started with $1.25 million before the trade and add-on.