TLDR
- BitcoinOG deposits 77.385K ETH ($227.38M) and 35.508K ETH ($104.38M) into Binance.
- BitcoinOG holds a $749M long position with a $49.2M unrealized loss across Ethereum, Bitcoin, and Solana.
- Ethereum price stands at $2,973.38, showing a 0.49% increase in the last 24 hours.
- Bitcoin price is $87,751.41, with a 0.28% increase in the past 24 hours.
- Solana trades at $124.06, reflecting a 0.83% rise in the last 24 hours.
BitcoinOG has initiated fresh Ethereum transfers to Binance again. According to on-chain data, the latest transaction involved a deposit of 77.385K ETH, valued at $227.38 million. Another transaction involved a deposit of 35.508K ETH, worth $104.38 million. Another deposit added 1 ETH valued at $2.94K.
BitcoinOG Holds $749M Long Position with $49.2M Loss
A closer examination of the Lookonchain observation reveals a large trader’s trading position, which holds a $749 million long position. This position includes $598 million in Ethereum, $87.25 million in Bitcoin, and $63.23 million in Solana. The trader holds 203,340.65 ETH, with 5x leverage. The unrealized PnL for the Ethereum position stands at a loss of approximately $41.5 million, reflecting a -34.69% return on investment (ROI). The Ethereum entry price was $3,147.39, and the current price is $2,943.20.
The position’s liquidation price for Ethereum is recorded at $2,143.35. The trader also holds a long position in Bitcoin, with an unrealized PnL loss of around $4.25 million, and in Solana, with an unrealized loss of $33.8 million. The total unrealized PnL across all positions stands at -$49.2 million. The total position size for the trader is $748.95 million.
BitcoinOG’s $292M ETH Deposit: A Pre-Christmas Transfer
This new transaction follows another transaction that was made before Christmas Day. Earlier, A total of 3.426K ETH, worth $10.03 million, was deposited in one transaction. Another deposit involved 96.574K ETH, valued at $282.76 million.
A smaller deposit of 0.1 ETH, valued at $292.68, was also made. These transactions reflect large-scale capital movement by the “1011 BitcoinOG” account, which holds substantial positions in Ethereum, Bitcoin, and Solana. The total Ethereum deposited amounts to approximately 100,000 ETH, valued at around $292 million.
Bitcoin, Ethereum, and Solana Current Market Action
The ongoing waves of transactions come at a time when Solana, Ethereum, and Bitcoin show a limited price trend. At the time of writing this article, CoinMarketCap data indicates that Bitcoin is currently priced at $87,751.41, representing a 0.28% increase over the last 24 hours. The 24-hour trading volume stands at $33.68 billion, with a market cap of $1.75 trillion. Ethereum is currently priced at $2,973.38, representing a 0.49% increase over the past 24 hours.
Ethereum’s 24-hour trading volume is approximately $19.41 billion, with a market cap of $358.66 billion. On the other hand, Solana is trading at $124.06, reflecting a 0.83% increase in the last 24 hours. Its 24-hour trading volume totals $3.10 billion, and its market cap is approximately $69.84 billion. While Bitcoin and Ethereum show moderate positive movements, Solana has also experienced an upward shift
The post BitcoinOG Moves ETH Again, Hits $49.2M Unrealized Loss on $749M Position appeared first on Blockonomi.
Source: https://blockonomi.com/bitcoinog-moves-eth-again-hits-49-2m-unrealized-loss-on-749m-position/
