A cryptocurrency trader, referred to as a whale, suffered a massive loss of over $308 million due to a liquidated leveraged position in Ether. The trader had taken a 50x leveraged long position holding 160,234 Ether, which was worth approximately $308 million at the time. This occurred during a volatile market phase, with Ethereum's price having dropped more than 53% since mid-December 2024. The liquidation happened when ETH was trading at $1,900, with a liquidation price set at $1,877. Prior to this trade, the whale had completely converted its Bitcoin holdings into Ethereum to execute the leveraged trade. Analysts attribute the ongoing bearish trend in Ether to macroeconomic pressures and decreased builder activity on the Ethereum network, affected by high operating fees. Additionally, US spot Ether ETFs are experiencing negative net outflows, further limiting Ether's potential upside.

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