Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
The founder of Amaranth Foundation spent 5 million USDC to purchase 1,697 ETH seven hours ago

The founder of Amaranth Foundation spent 5 million USDC to purchase 1,697 ETH seven hours ago

Bitget2024/05/02 02:37
BTC+2.21%AAVE+2.82%ETH+0.23%

According to on-chain analyst Yu Jin, James Fickel, the founder of Amaranth Foundation, spent another 5 million USDC to buy 1,697 ETH at a price of $2,946 seven hours ago. Since early January this year, James Fickel has been long on the ETH/BTC exchange rate: He borrowed a total of 2,321 WBTC (worth $134 million) from Aave using his ETH as collateral and then sold it for 42,325 ETH. The cost of the ETH/BTC exchange rate was at 0.0548. The current price of the ETH/BTC exchange rate is now at 0.0508 which means he's currently experiencing an unrealized loss of about $9.8 million (-7.3%) on his long position.

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.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

BTC surpasses $111,000
金色财经2025/10/20 20:22

Trending news

More
1
BTC surpasses $111,000
2
The Dow Jones Index closed up by 515.97 points, with both the S&P 500 and Nasdaq also rising.

Crypto prices

More
Bitcoin
Bitcoin
BTC
$110,988.49
+1.88%
Ethereum
Ethereum
ETH
$3,984.39
-0.05%
Tether USDt
Tether USDt
USDT
$1
-0.02%
BNB
BNB
BNB
$1,100.36
-1.58%
XRP
XRP
XRP
$2.52
+4.57%
Solana
Solana
SOL
$189.3
-0.04%
USDC
USDC
USDC
$1.0000
-0.00%
TRON
TRON
TRX
$0.3222
+0.51%
Dogecoin
Dogecoin
DOGE
$0.1995
+1.22%
Cardano
Cardano
ADA
$0.6659
+0.97%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter