As Ethereum surged tonight, renowned trader Band Brother doubled down on his short-selling strategy.
Within just 30 minutes, he borrowed an additional 11,000 ETH and sold it, bringing his total short position to 21,613 ETH, valued at $74.72 million. His average short-selling price stands at $3,458, but the current floating loss has reached $1.44 million as ETH’s price continues to climb.
啊这…波段老哥这卖空玩的越来越大了…😅
随着今晚 ETH 的上涨，波段老哥又加码了 ETH 的卖空：他在过去半小时里又借了 11,000 ETH 并卖出。他现在卖空的 ETH 数量已经来到了 21,613 枚 ($74.72M)，卖空的均价为 $3,458，目前浮亏 $144 万。https://t.co/hEo8JA7EWXhttps://t.co/iuHlmELS1Q… https://t.co/nOfMjipeem pic.twitter.com/PD2oEt5CpX
— 余烬 (@EmberCN) January 3, 2025
Previous Profits Lead to Renewed Risk
Yesterday, Band Brother successfully profited $230,000 by short-selling ETH. Emboldened by this win, he entered the market again, but this time with a more substantial risk. Instead of purchasing ETH, he leveraged Aave, pledging USDT to borrow 10,612.6 ETH, which he sold at $3,387 for 35.94 million USDT.
波段老哥这是哪个方向都能玩啊~这又玩起卖空 ETH 来了😂
波段老哥昨天晚上买入的 ETH 已在今天上午全部卖出，赚了 $23 万。
我还以为他会像之前一样等 ETH 价格回落一点重新买进呢，结果老哥 2 小时前就又杀进去了。不过这次就不是买 ETH 了，而是抵押 USDT 从 Aave 借了 10,612.6 ETH 以 $3,387… https://t.co/Qtmgs3fTzk pic.twitter.com/3DmnzBjjVb— 余烬 (@EmberCN) January 2, 2025
Market Movements and Ethereum ETF Outflows
Band Brother’s aggressive short-selling comes amid notable activity in Ethereum’s broader market. On January 2, Ethereum spot ETFs experienced a net outflow of $77.51 million, with Grayscale’s ETHE ETF alone seeing a one-day outflow of $21.4 million. Despite these sell-offs, the total net asset value of Ethereum spot ETFs remains strong at $12.438 billion.
Ethereum spot ETF had a total net outflow of $77.51 million on January 2, and Grayscale ETF ETHE had a single-day net outflow of $21.4027 million. The current total net asset value of Ethereum spot ETF is $12.438 billion. https://t.co/Tvs2oCSxTg pic.twitter.com/UsyaF9iaxb
— Wu Blockchain (@WuBlockchain) January 3, 2025
High-Stakes Trading in a Volatile Market
Band Brother’s strategy highlights the risks and rewards of high-leverage trading. While his earlier trades earned him profits, the rising price of Ethereum could challenge his current short positions. With ETH showing resilience and institutional interest persisting, traders will closely watch Band Brother’s moves and the broader market dynamics to gauge the next steps in Ethereum’s trajectory.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Image Source: Bastian Riccardi on Unsplash // Image Effects by Colorcinch
