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Spotted a heavyweight move on the derivatives market—one of the platform's top PnL performers just added another $10.26K to their ETH short at $3,418.90.
Get this: their total exposure now sits at $11.52M short ETH, with an average entry around $3,521.53. That's some serious conviction on the downside.
The spicy part? Liquidation doesn't trigger until $7,348.98—meaning they've got massive room before getting rekt. Either they're hedging a monster long elsewhere, or they genuinely think ETH's headed for a deeper correction.
With ETH currently trading below their average entry, they're already in profit territory. But holding an 11-figure short position takes nerves of steel—or insider-level confidence in macro headwinds.