One of the Market’s Largest Crypto Whales Is Facing a Disaster: $128 Million in Losses

Blockchain analytics platform Bubblemaps announced that trader Garrett Jin, who is said to have an on-chain connection with the large investor known as the “October 10 Whale,” has suffered a total loss of $128 million.

According to Bubblemaps data, Garrett Jin would have made over $70 million in profit today if he hadn’t entered Ethereum (ETH) trades at all. However, after experiencing significant losses in his ETH positions, his total losses are reported to have reached $128 million.

Related News: Ethereum Is Undergoing a Complete Overhaul with Its Upcoming Major Update

The investor in question had previously made approximately $100 million in profits from short positions he opened on Bitcoin (BTC). However, he was later alleged to have suffered losses exceeding $200 million due to high-volume long trades he opened on Ethereum.

According to analyses, a wallet linked to the trader recently transferred millions of dollars to the decentralized derivatives platform Hyperliquid. The same wallet reportedly purchased approximately $10 million worth of HYPE and also opened a $38 million short position on Zcash (ZEC).

*This is not investment advice.

Continue Reading: One of the Market’s Largest Crypto Whales Is Facing a Disaster: $128 Million in Losses