A whale linked to Matrixport is experiencing a floating loss of $33.86 million on its ETH long position and has initiated a new long position of 500 BTC.

On May 28, Lookonchain monitoring revealed that a whale associated with Matrixport, holding a long position of 120,000 ETH (worth $237 million), is currently facing an unrealized loss of $33.86 million. This whale recently established a new account, deposited 5 million USDC, and initiated a long position of 500 BTC (valued at $36.5 million) with 20x leverage.