Whales have been holding for nearly 8 days, with funding fees surpassing $1 million! ETH has the highest cost.

【Crypto World】Recently, a piece of on-chain data has attracted a lot of attention. The large holder who shorted during the flash crash in October has been holding long positions since December 7th, and has not let go up to now, persisting for nearly 8 days.

The cost paid during this process is not small—just the funding fees have accumulated to $1.016 million. You read that right, it’s truly a million-dollar level fee. Even more astonishing is that 90.2% of this fee was paid for holding long ETH positions.

What does this indicate? This whale still has strong confidence in Ethereum’s bullish prospects, even willing to bear such high holding costs. Some analysts believe that such large-scale position changes often reflect market participants’ expectations for the future market—especially operations that maintain longs at all costs, which often signal a certain market indicator.