The whale who previously bought WBTC and ETH at high prices through looped lending continues to sell off, offloading 400 WBTC to repay loans.
PANews reported on January 26 that, according to on-chain analyst Ember, the "whale who bought $263 million worth of WBTC and ETH at high prices using a revolving loan" continued to cut losses today after BTC dropped to $86,000, selling 400 WBTC for 34.67 million USDT to repay loans, with a selling price of $86,694.
Due to buying at high prices and selling at low prices, this whale has already realized a massive loss of $51.17 million:
- 18,517 ETH bought at $4,415 each (totaling $81.75 million) have all been sold at an average price of $3,049, resulting in a loss of $25.29 million;
- 1,560 WBTC bought at $116,762 each (totaling $182 million) have had 960 WBTC sold at an average price of $89,798, resulting in a loss of $25.88 million.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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