An ETH whale sold 26,600 ETH for 82.52 million USDT to reduce leverage

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Cointime2024/07/05 01:13

By:Cointime

In the past 2 hours, a whale who previously leveraged long ETH on the chain sold 26,600 ETH and exchanged it for 82.52 million USDT to unload the leverage. This caused ETH to drop by $100 ($3,160 to $3,060). The whale leveraged long ETH on the chain on January 5th, borrowed 48 million USDT to buy 21,192 ETH at a price of $2,265 and held it for six months without moving. Until 2 hours ago, the whale sold 26,600 ETH at an average price of $3,102 and exchanged it for 82.52 million USDT to repay the loan on Aave.

Because the whale bought at a low price, he still realized a profit of $22.26 million (+37%) from the 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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