An ETH whale went long on ETH twice in a row, with a total loss of $4.86 million.

According to Jinse Finance, on-chain analyst Onchain Lens (@OnchainLens) has monitored that an Ethereum whale suffered significant losses after two consecutive high-leverage operations and has now completely exited the market. The investor first closed a 7x leveraged ETH long position, incurring a loss of $3.34 million. Subsequently, they opened a new 8x leveraged ETH position worth approximately $17 million, which was eventually closed at a loss of $1.23 million. The total loss from both operations reached as much as $4.86 million, and the investor has withdrawn all remaining funds from the HyperLiquid platform.