A whale who used a looping loan to go long on ETH sold 10,000 ETH for approximately $29.15 million.
According to Jinse Finance, as reported by Yujin, address 0xa339 was forced to sell 30,894 ETH in April due to a drop in ETH price to avoid liquidation, resulting in a loss of approximately $40 million. Later, when ETH stabilized, the whale bought back 19,973 ETH at $1,740, bringing its total holdings to about 50,000 ETH at an average price of $2,545. After holding for about eight months, this whale sold 10,000 ETH four hours ago at a price of $2,915, cashing out approximately $29.15 million and realizing a profit of about $3.7 million. Currently, the whale still holds around 40,600 ETH, with an unrealized profit of about $15 million, but this is still not enough to offset the losses from the forced sale at the beginning of the year.
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