A well-known trader in the Ethereum market ultimately chose to give up. This trading whale, who had achieved a 75% win rate in four trades, decided not to continue with margin replenishment after facing continuous liquidations this afternoon, and instead opted for a complete close position. This shorting operation on Ethereum resulted in a loss of up to 20.73 million dollars.

This trader began shorting Ethereum on July 28. On August 3, he once achieved a floating profit of 12.25 million dollars. However, the price of Ethereum continued to rise, causing his positions to face liquidation repeatedly. During this process, he repeatedly conducted margin replenishment and liquidation operations, investing a total of 20.98 million dollars.

In the end, this trader completely gave up resistance this afternoon (or perhaps the capital chain has already broken). After closing all positions, his account only had $250,000 left, which means a total loss of an astonishing $20.73 million.

This event serves as a reminder to investors that even experienced traders can face significant losses when confronted with the high volatility of the cryptocurrency market. It highlights the importance of exercising caution and risk management during high-risk trading. At the same time, this case also reflects the recent strong performance of Ethereum, prompting many shorting traders to recognize their losses.