A whale/institution holding leveraged ETH has sold 36,900 ETH in the past four days to cut losses.

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PANews
02-04
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PANews reported on February 4th that, according to on-chain analyst Yu Jin, a cluster of whale/institutional addresses holding ETH lending positions recently sold 36,900 ETH through Hyperliquid to stop losses and withdrew 82.36 million USDC to repay loans.

He is currently still cutting his losses: he still holds 56,000 ETH (worth $115 million), and the liquidation price of these ETH borrowed positions is around $2,050, only about $200 away from the current price.

He bought ETH last July at an average price of about $3,363, and has now lost as much as $105 million.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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