Crypto trader identified by the wallet address 0xcB92 has significantly increased his bearish bet against Ethereum (ETH).
The trader deposited an additional 3.37 million USDC to bolster his existing short position on the leading smart contract platform.
This substantial capital injection brings his total short position to 40,000 ETH, equivalent to approximately $114 million at current prices.
Despite the increased exposure, the trade is currently showing a paper loss exceeding $2.5 million.
The position faces liquidation if the price of Ethereum rises to $2,938.2, representing a key risk level for the trader’s strategy.