On-chain Trader Shifts From Large ETH Short to Leveraged Long

On-chain trader pension-usdt.eth closed a short position of 20,100 ETH worth about $62.34 million for a profit of approximately $395,000 and subsequently opened a 3x long position on 20,000 ETH valued at about $62 million, according to data from blockchain analytics account Lookonchain. Lookonchain reported that the trader’s cumulative profits have now exceeded $22.38 million.