Short ETH Has Earned Nearly $80, ETHMegaBear Trader Is Currently Challenging the Market

A name that has emerged in the decentralized trading community - ETHMegaBear - just announced a profit chart that will surprise anyone. By short selling ETH for nearly 2 years, this whale has accumulated nearly $80 million in net profit, an unbelievable figure in a market filled with bullish cheers.

2-Year Short Selling Strategy with Shocking Numbers

ETHMegaBear’s persistence is rare in the cryptocurrency market. Since 2024, this trader has consistently maintained a short ETH position on decentralized platforms without wavering. The total profit has now reached $81.25 million – a huge fortune built from decisions that go against the market’s main flow.

What makes the difference is the use of extremely aggressive leverage. Initially, ETHMegaBear boldly increased leverage to 50x, but has now adjusted down to 25x. Still, the level of risk remains something everyone should be cautious about.

Massive Open Short Position - The Ongoing Game

There are no signs of ending this journey; ETHMegaBear is still holding an open short position of seemingly impossible size. Currently, this trader holds 30,582 ETH in short, with a contract value of up to $88.62 million. The entry point was set at $3,116.99.

With ETH’s current price at $2,090, this position is in profit by $6.7 million. However, widening the gap between the current price and the entry point means the risk is increasing day by day.

25x Leverage and Margin Call Threshold Nearly Reached

High profits always come with deadly risks, and ETHMegaBear certainly understands this. With 25x leverage, if ETH rises to $3,864.43, this position will be wiped out. That’s only $774 away from the current price – a jump not too far from normal cryptocurrency market volatility.

If a strong recovery occurs, the account worth over $32 million could vanish instantly.

Income from Funding Fees - The Side Strategy of Short Sellers

An interesting detail that not everyone notices is the Funding Fee in the order book. Besides profits from ETH’s price decline, ETHMegaBear also earns nearly $7 million from funding fees – the money paid by long investors to short sellers.

This makes holding a short position a kind of compound interest trap, where the longer the position is held, the more the side profits grow. This is one of the factors that makes ETHMegaBear’s strategy easier to maintain compared to others.

ETHMegaBear’s story proves that in financial markets, going against the main flow isn’t always wrong, but it requires decisiveness, discipline, and extraordinary stress tolerance.