Wallet With More Than $20 Million Four-Month Gain Opens $29 Million Ether Short

An unnamed wallet opened a 20x short on 13,000 Ether (ETH), valued at $29 million, after closing long positions in 1,000 Bitcoin (BTC) and 10,000 ETH for gains above $20 million over four months. The wallet shifted from long positions in Bitcoin and Ether to a leveraged short position in Ether. The earlier positions had been held for four months before they were closed, and together they generated more than $20 million in gains. Bitcoin appears in the closed long position only; the newly disclosed short is entirely in ETH.