ETH breaks $3,000, the legendary "counterparty whale" is sitting on an unrealized loss of nearly $25 million

[BlockBeats] ETH has broken $3,000, and a big whale just took a massive loss.

On-chain monitoring shows that the whale with address starting 0x9ee—the same one who previously went head-to-head with a certain well-known figure—has taken a huge hit this time on both ETH and XRP. The two long positions combined are showing an unrealized loss of $24.93 million.

Here are the specific numbers: On the ETH side, the loss is $13.55 million, with a position still holding $154 million worth of ETH at an average entry price of $3,201. The liquidation price is set at $2,497.2. The XRP position isn’t faring much better, holding $77.63 million with an entry price of $2.29 per XRP, and an unrealized loss of $11.38 million.

What’s interesting is the trading pattern of this whale. After a certain big player bought ASTER in early November, this whale went all-in with 3x short leverage and briefly became the largest ASTER short. Then, on the 17th, he exited at breakeven and immediately went all-in on ETH longs. In hindsight, that pivot was poorly timed, and some positions have already been liquidated.

That’s how the market works—yesterday’s counterparty hero might become today’s talk of the town.