PANews reported on November 28th that, according to on-chain analyst Yu Jin, a "whale" who hoarded WBTC and ETH at high prices through a revolving loan scheme has been forced to sell off his entire holdings. He suffered a loss of $25.29 million by liquidating 18,517 ETH, and is now also gradually selling off his WBTC at a loss. Over the past week, he sold 350 WBTC at an average price of $87,732, exchanging them for 30.7 million USDT. His WBTC cost price was $116,762, resulting in a loss of $10.16 million from this sale. His remaining 1,210 WBTC are currently showing a paper loss of $30.9 million.PANews reported on November 28th that, according to on-chain analyst Yu Jin, a "whale" who hoarded WBTC and ETH at high prices through a revolving loan scheme has been forced to sell off his entire holdings. He suffered a loss of $25.29 million by liquidating 18,517 ETH, and is now also gradually selling off his WBTC at a loss. Over the past week, he sold 350 WBTC at an average price of $87,732, exchanging them for 30.7 million USDT. His WBTC cost price was $116,762, resulting in a loss of $10.16 million from this sale. His remaining 1,210 WBTC are currently showing a paper loss of $30.9 million.
A "whale" that accumulated WBTC and ETH at high prices through revolving loans has sold off 350 WBTC at a loss in the past week.
PANews reported on November 28th that, according to on-chain analyst Yu Jin, a "whale" who hoarded WBTC and ETH at high prices through a revolving loan scheme has been forced to sell off his entire holdings. He suffered a loss of $25.29 million by liquidating 18,517 ETH, and is now also gradually selling off his WBTC at a loss. Over the past week, he sold 350 WBTC at an average price of $87,732, exchanging them for 30.7 million USDT. His WBTC cost price was $116,762, resulting in a loss of $10.16 million from this sale. His remaining 1,210 WBTC are currently showing a paper loss of $30.9 million.
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