Ether Whale engages in a long and short battle! Some people suffered a tragic loss of 17.51 million magnesium on the weekend, while others took the opportunity to repurchase at a low price

The cryptocurrency market experienced another pullback over the weekend, appearing to be at the intersection of long and short positions. Some whales were unable to withstand the pressure and cut losses, while others took the opportunity to buy at low prices.

According to information shared by on chain analyst Yu Jin, a certain whale had previously accumulated 30654 ETH (88.43 million US dollars) through a revolving loan at an average price of 2885 US dollars. However, due to the continuous decline of Ethereum, this whale has been cutting losses since September 7th, selling 28564 ETH at an average price of $2272, resulting in a loss of $17.51 million. Currently, there are 2268 ETH remaining in the wallet, close to liquidation.

Meanwhile, another whale named Nemorino. eth bought back his Ethereum position sold on September 6th for $2277 yesterday morning, causing its position to jump from 18650 ETH before selling to 20083 ETH (worth approximately $45.7 million).