smartestmoney.eth: Transferring ETH to the exchange is for long positions in the currency standard, not for selling to stop losses

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Odaily2024/06/24 03:40

By:Odaily

Odaily News In response to the operation of depositing a large amount of ETH into CEX to cut losses, smartestmoney.eth said that this was not a sell stop loss. The purpose of transferring ETH to the exchange was to go long on the currency standard. He usually transferred ETH back to the on-chain wallet after the income was credited. Recently, he posted on X: I use CoinM (reverse perpetual contract) as a last resort to double my long position, which usually gives me the highest win rate, the best entry point and the most profit. Earlier today, according to the monitoring of on-chain analyst @ai_9684xtpa, smartestmoney.eth (@smartestmoney_) chose to cut losses. He opened a position of 8,127 ETH from 06.19 to 06.21, and recharged 3,000 of them (worth $10.27 million) to Binance an hour ago. If all are sold, the loss will be nearly $400,000, and the remaining 5,127 will also have a floating loss of $750,000.

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