A prominent cryptocurrency whale has closed a 50,000 ETH short position, incurring a $710,000 loss after Ethereum's price surpassed the short position's cost price. Initially opened on June 11, the position saw a potential profit of $22.83 million when ETH dropped to $2,200 on June 23. However, as ETH's price rose above $2,725, the whale exited the position at $2,740, ending a previously undefeated streak in ETH trades. Despite this setback, the whale maintains a cumulative profit of $4.88 million from past Ethereum transactions.