Wallet Reverses Ether Position, Closing a Short Valued at $61.01 Million

Address 0x7fdafde5cfb5465924316eced2d3715494c517d1 reversed its Ether (ETH) exposure over a nearly 16-hour window, closing a short position valued at about $61.01 million and opening a long worth $11.87 million.

Trading activity ran from 6:04 a.m. ET Thursday, Oct. 29 (10:04 UTC) to 9:59 p.m. ET the same day (01:59 UTC Friday, Oct. 30). The $61.01 million figure describes the short position’s value. Separately, about $17.25 million in positions were closed and $13.87 million in positions opened during the window.

At 4:20 a.m. ET Friday, Oct. 30, the wallet held about 5,316 ETH in its long position, roughly six hours after the trading window ended. Its derivatives account showed cumulative profits of about $138 million. The figures describe activity at this single address.