Whale's 25x ETH Long: $4M Unrealized Loss Signals Elevated Risk

Big Brother Whale Huang Lizhong’s 25x leveraged Ethereum long is currently sitting on an unrealized loss of over $4 million.

I view this as a clear example of how extreme leverage magnifies downside: a relatively modest price move can produce large mark-to-market losses and raise the risk of forced liquidation.

I’m cautious here — I wouldn’t chase the position or use high leverage on ETH. I’m watching funding rates, open interest and whale activity for signs of cascading liquidations before considering any directional exposure.