An anonymous cryptocurrency trader accumulated almost $ 68 million of unrealized profit, returning the ether due to his last drop in prices.

According to In order for Blockchain Data with Hypurscan, a salesman opened a 50 -weekly low position when Ether (ETH) traded at USD 3176, 1 February. From 9:06 UTC on March 5, the position had almost $ 68 million from non -rereisy profit.

Shortening consists in “borrowing” the basic cryptocurrency from the broker, selling it at the current price, and then redeemed it at the price of a price – the strategy used by traders to decrease the price of assets.

Trade included a low circuit of 70,131 ETH, worth over $ 155 million at current prices. In addition to unrealized profits, the trader also earned $ 3.2 million financial fees. However, the position is threatened with liquidation if the etern price increases above USD 3,460.

The lucrative low position appeared during the period of increased variability on the cryptographic market. The industry has recently suffered the largest burglary in history, while Bybit will lose $ 1.4 billion, as well as wider macroeconomic factors in which Ether prices have fallen by almost 11% over the past week, according to CointeLraph Markets Pro data.

Related: Can Ether recover over USD 3,000 after huge hacking Bybit USD 1.4 billion?

PECTRA Ethereum update can put the basis for the next Ether Price Rally

Cointelegraph has announced that the profitable low trade appears in the stimulating period of Ethereum development, because the improvement of Pectra took place at the final test test on March 5.

According to Gabriel Halma, a research analyst from Intelligence Blockchain Intelligence Blockchain Intelligence, the upgrading of Pectra Ethereum may be based on the next ether rally, helping to reduce long -term sales pressure: Blockchain Intelligence analyst:

“While the upcoming improvement of Pectra Ethereum will not necessarily cause an immediate increase in prices, it is a significant step forward in the continuous improvement of the Ethereum ecosystem.”

“By reducing the general costs of consensus and increasing the scalability of L2, it will expand the overall capacity of the network, thus increasing its competitive advantage,” added the analyst.

The Ethereum (EIP) -7251 proposal will enhance the validation pond limit from 32 ETH to 2048 ETH, facilitating validations of sophisticated earnings, potentially reducing sales pressure over time.

Related: Memecoins: From social experiment to tools “value extraction”

However, the update was activated on the opening TestNetin on February 24 and could not be finalized. This may mean that Ethereum developers will delay Mainnet’s launch by examining problems.

Investors expect more information on the final date of implementation of Pectra Mainnet on March 6 during the call of all main Ethereum programmers.

https://www.youtube.com/watch?v=ndnryf5nlkw

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