An institution has used 112.96 million USDC to purchase 47,070 ETH in the past three days

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PANews
06-23
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PANews reports on June 23rd that according to Spot On Chain monitoring, an institution used 112.96 million USDC to purchase 47,070 ETH at an average price of $2,400 during the recent market decline.

Over the past 11 days, the institution has cumulatively invested $333.78 million through Wintermute and Coinbase OTC trades to acquire 132,535 ETH (at an average price of $2,518), currently facing an unrealized loss of $36.68 million (-11%). The previously gained profit of over $30 million is now at risk of being wiped out.

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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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