This Whale Made $15 Million from ETH! How You Can Follow Along

Ethereum (ETH) is back in the spotlight, not because of another rally, but due to the bold actions of a notorious crypto whale who has turned high-stakes trades into multimillion-dollar gains. Known simply by the wallet address “0x2258…”, this whale has made waves by shorting ETH at scale—and winning big.

The most recent bet? A massive $62.42 million short position using 18x leverage that’s already raking in over $1 million in unrealized profit. But this isn't just a story of one lucky trade. It's a masterclass in calculated risk, timing, and reading market sentiment.

If you've ever wondered how whales trade Ethereum and whether it’s possible to follow in their footsteps, this article breaks down the latest trade, the strategy behind it, and what it could signal for ETH’s next move.

Read Also: Understanding the Ethereum Blockchain

Key Takeaways

• A well-known crypto whale opened a $62.42 million short position against Ethereum using 18x leverage, anticipating ETH would drop below resistance.
• The entry price was $3,060, and ETH is currently trading below that level, yielding an unrealized profit of $1.14 million.
• The whale’s liquidation point sits at $3,505, just under a critical resistance level where ETH previously reversed in January 2025.
• This same wallet has a track record of profiting over $15 million, often by taking opposite positions to influencer James Wynn.
• The trade reflects market doubt about Ethereum’s short-term momentum and highlights how high-leverage plays can magnify profits—or losses.

Breaking Down the $62M Short: Why It Matters

Using blockchain data tracked by Hyperdash, the whale's trade involved shorting 20,474 ETH at $3,060. This move came during a period of weak bullish follow-through for Ethereum, which had recently failed to convincingly reclaim the $3,500 mark.

With ETH now trading under $3,000, the whale is sitting on an unrealized 30% profit, showcasing a calculated entry point based on technical resistance levels and market psychology.

The real kicker? The trader used 18x leverage, signaling extreme conviction. This kind of leverage drastically amplifies both profit and loss. At the current price, the risk is paying off—but a sudden reversal above $3,505 could instantly liquidate the position.

Ethereum Price Action: The $3,500 Wall

ETH has been struggling to reclaim the $3,500 resistance, a key level where bulls have repeatedly failed since January 2025. This resistance is now reinforced by the whale’s liquidation zone, making it a battleground for price action.

For the whale, any move above $3,505 could trigger a forced buy-back, causing losses. But as long as ETH stays below this level, the short position remains in profit.

From a technical standpoint, this trade highlights how key price levels can serve as psychological and strategic barriers. Traders watching ETH’s reaction around $3,000–$3,500 now have even more reason to pay attention.

The Whale vs. James Wynn: A Profitable Rivalry

Interestingly, this isn't just a data-driven play — it’s also part of a larger trend involving influencer trades. The wallet “0x2258…” has built a reputation for trading directly against James Wynn, a well-followed crypto personality.

In May 2025, Wynn went long on ETH and BTC. Immediately afterward, this whale shorted both assets. When Wynn closed his positions, the whale did too—netting $1.36 million.

The strategy repeated itself multiple times that month, resulting in $5.6 million in profits over just three days. Now, with total realized gains exceeding $15 million, the whale has become a symbol of anti-hype trading—doing the opposite of what popular voices suggest and letting the market prove them right.

Why Leverage Plays Like This Can Work

The use of 18x leverage in this trade is eye-catching, but it's also incredibly risky. Leverage allows traders to control larger positions with less capital. At 18x, a 5.5% move against the trade would cause total liquidation.

This whale’s confidence comes from more than just guesswork. The strategy appears rooted in:

• Reading sentiment shifts, especially when public influencers go long
• Identifying key resistance levels like $3,500
• Moving fast, opening and closing positions in sync with market narratives
• Accepting risk, knowing that large rewards only come with calculated exposure

This is not a strategy for casual retail traders. But it offers valuable lessons about conviction, timing, and reacting to market behavior.

Read Also: Ethereum (ETH) Breaks $3000, a Sign of Altcoin Season

Should You Follow Whale Trades?

While most traders don’t have millions to deploy or access to institutional-grade execution tools, watching whale wallets can still offer strong signals.

When whales make large leveraged moves, they often telegraph their market sentiment—especially at critical price levels. If ETH stays under $3,000, it could embolden others to short or stay out of long positions.

However, blindly copying whale trades is dangerous. Retail traders lack the same risk buffers, and overleveraging often leads to liquidation. Use such trades as insight, not instruction.

How to Track Whale Activity

If you’re interested in monitoring trades like these, here are a few tools and platforms that help:

• Lookonchain: Tracks real-time wallet actions and notable trades
• Hyperdash: Offers live data feeds on positions, profits, and liquidations
• Etherscan + DeBank: Help verify wallet activity and token balances
• TradingView: For charting resistance levels and technical analysis

These tools won’t give you a whale’s bankroll or experience—but they’ll show you what the biggest players are doing in real time.

Final Thoughts

Ethereum’s current price action reflects a broader battle between short-term bears and long-term bulls. While Bitcoin pushes into higher territory, ETH is facing stronger headwinds at $3,500.

The whale wallet “0x2258…” is betting big that ETH will not overcome this level—at least not yet. With $62 million on the line, and over $15 million in past profits, this is not a trade taken lightly.

The success of this position hinges on market sentiment, resistance strength, and ETH’s ability—or inability—to generate bullish momentum. For retail traders, it’s a chance to study how high-level traders operate under pressure and identify patterns worth following.

Whale moves often foreshadow market pivots, and right now, the whales are signaling caution.

Read Also: Ethereum Price Analysis: Is It Momentum for a Breakout?

FAQs

Who is the crypto whale behind the $62M ETH short?

The trader is identified only by the wallet address “0x2258…” and is known for profitable contrarian trades, particularly ones that go against influencer James Wynn.

What price did the whale short Ethereum at?

The whale shorted 20,474 ETH at an entry price of $3,060 using 18x leverage.

What is the liquidation price for the whale’s position?

The position will be liquidated if ETH rises above $3,505—a key resistance zone that has held since early 2025.

How much profit has the whale made so far?

The current unrealized profit is approximately $1.14 million. Historically, this whale has made over $15 million in realized gains.

Can retail traders copy whale strategies?

While it’s possible to monitor whale trades using blockchain tools, copying them directly is risky. Most retail traders lack the capital, speed, and risk tolerance needed for such high-leverage plays.