A whale who was long ETH on the chain sold 26,600 ETH in the past 2 hours, making a profit of $22.26 million

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Odaily2024/07/05 00:51

By:Odaily

Odaily News According to on-chain analyst Ember, in the past two hours, a whale who previously leveraged long ETH on the chain sold 26,600 ETH in exchange for $82.52 million USDT to unload leverage. This caused ETH to fall by $100 (US$3,160 → US$3,060). This whale leveraged 1/5 of the chain to go long on ETH, borrowed 48 million U to buy 21,192 ETH at $2,265, and held it for half a year. Until recently, the market took a sharp turn for the worse. Two hours ago, the whale sold 26,600 ETH at an average price of $3,102 in exchange for $82.52 million USDT to repay the loan on Aave. Because the whale bought at a low enough price, he still realized a profit of $22.26 million (+37%) from the current sale.

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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