The ETH/BTC exchange rate on a certain chain sold 2000 ETH for 76 WBTC 7 hours ago, dropping the long positions.

robot
Abstract generation in progress

Golden Finance reported that according to on-chain analyst Yu Jin’s monitoring, as the ETH/BTC exchange rate dropped to a new low of 0.0377 since April 2021, the largest on-chain position of ETH/BTC exchange rate long positions @jamesfickel continues to reduce position: 7 hours ago, selling 2000 ETH ($5.06 million) in exchange for 76 WBTC drop positions. ◎James Fickel’s ETH/BTC Exchange RateLongPosition peaked at the end of May, when he borrowed a staggering 2,987 WBTC (worth $204.7 million) from Aave, and bought ETH with the borrowed WBTC at an Exchange Rate of 0.054. ◎ Later, as the ETH/BTC Exchange Rate continued to decline without any Rebound, James Fickel had no choice but to reduce position starting from August: he redeemed ETH in batches and sold them for WBTC to repay the debt. As of now, in the span of two and a half months, he has sold 43,600 ETH and exchanged them for 1,766 WBTC (118.9 million USD) to repay the debt and reduce position. ◎His ETH/BTC Exchange Rate long positions currently have a loan of 1221 WBTC.

ETH2.99%
BTC1.76%
WBTC2.15%
AAVE4.21%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)