A whale exchanged 220 BTC for ETH at the beginning of the year, now has an unrealized loss of 8.37 million USD, and recently started frequent operations, losing another 105 ETH

Jinse Finance report, according to Yujin monitoring, a whale once exchanged 220.1 cbBTC (about 20.81 million USD) at an exchange rate of 0.0354 for 6,202.4 ETH, at that time BTC was priced at 94,548 USD, and ETH was priced at 3,355 USD. If this address has held the BTC until now, its BTC holdings would have appreciated to about 23.72 million USD, while the current value of ETH is only 15.35 million USD, resulting in a paper loss of as much as 8.37 million USD. More noteworthy is that this address has recently started a new round of trading: four days ago, it sold 3,158 ETH at a price of 2,378 USD to obtain about 7.51 million DAI, and then used this DAI to repurchase 3,053 ETH at a price of 2,460 USD three hours ago. This round of operations resulted in a loss of 105 ETH (about 260,000 USD).