The secret to earning $81 million from Hoa Tử Huyền SHORT ETH - From a lonely icon to a market powerhouse

StablecoinGuardian · 2026-02-05T02:15:16+00:00

ETHMegaBear, a legendary figure in the trading world, made $81.25 million through strategic shorting of ETH over two years amidst a bull market. Utilizing high leverage and taking on significant risks, he continues to challenge the market despite the dangers of potential liquidation. This narrative illustrates the fine line between high reward and high risk in trading.

StablecoinGuardian

2026-02-05 02:15:16

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When the entire market is in a Bull Run frenzy, there exists a legendary figure moving against the mainstream flow. Known to the community as ETHMegaBear, this whale is the dark horse of the SHORT world—a name that caused a stir when it announced a PnL statement showing a net profit of $81.25 million USD in just the past two years. This is not mere luck, but the result of a bold strategy and unwavering determination to go against the crowd.

The 2-Year Short ETH Journey of ETHMegaBear

From 2024 to now, ETHMegaBear has consistently carried out a Short ETH journey on decentralized trading platforms without any hesitation. Unlike indifferent traders, this figure chose to leverage heavily—initially 50x, now maintained at 25x—to amplify profits.

In a context where most of the market is recovering, this dark horse has accumulated $81.25 million USD in profits. This vivid example shows that with clear vision and a suitable strategy, the overall market trend cannot stop you.

Aggressive Strategy with 25x Leverage

Currently, ETHMegaBear has no intention of retreating. Instead, this figure continues to hold a massive Short position to challenge the market:

SHORT order size: 30,582 ETH
Contract value: $88.62 million USD
Entry price: $3,116.99 each
Funding Fee: Positive $6.90 million USD

Interestingly, this dark horse not only profits from ETH price declines. Besides the main profit from price difference, this whale also pockets nearly $7 million USD from Funding Fees—the fee paid by Long investors to Short investors. With ETH at around $2.15K, this Short position is still making a profit of $6.7 million USD, creating a unique double-profit cycle.

Ultimate Risk - Price Liquidation in a Blink

However, behind this great success lies extreme danger. With 25x leverage, a small misstep can lead to disaster. The liquidation price of this position is at $3,864.43—meaning if ETH recovers strongly beyond this threshold, ETHMegaBear’s entire current position of nearly $32 million USD will be wiped out in an instant.

This is a fundamental lesson often forgotten: high profits always come with deadly risks. The story of ETHMegaBear is a wake-up call that, despite generating $81 million, a single mistake can wipe everything out. This dark horse lives on a tightrope, just one wrong decision away from disaster.

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