🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 89,312 #ETH (264,459,418 USD) transferred from #Bithumb to unknown wallet
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<div>🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 89,312 #ETH (264,459,418 USD) transferred from #Bithumb to unknown wallet <a href="https://whale-alert.io/transaction/ethereum/0x3796af6620f38f686285edaebdfc30619bfd7478aee6b4ba586217f4d1646139" rel="nofollow">Details</a></div>

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Renowned crypto investor Jack Yi used Aave revolving lending to build a $2 billion ETH position, only to see it crumble during the market crash [...]
The article, "Yi Lihua Completely Sells Off ETH! Trend Research Sells 650,000 Ethereum in a Week, Losing $730 Million," was originally published on BlockTempo, the most influential blockchain ABMedia media.

Yi Lihua completely liquidated his ETH holdings! Trend Research reportedly sold 650,000 Ethereum in a week, incurring a loss of $730 million before exiting the market.

At a conference dedicated to the riskiest traders in finance, Miami's crypto scene appeared far different than during its pandemic-era boom.

The Vibes From the 'Davos for Degens' as Bitcoin and Ethereum Plummeted

Author | Jeff Park (Chief Information Officer, Bitwise)
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: On February 5th, the cryptocurrency market experienced another crash, with over $2.6 billion liquidated in 24 hours. Bitcoin briefly plummeted to $60,000, but the market seems to lack a clear consensus on the causes of this decline. Bitwise CIO Jeff Park offers a new analytical framework from the perspective of options and hedging mechanisms.
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