ChainCatcher report: According to on-chain data analyst Yujin, a whale who used leveraged long positions in BTC through a revolving loan has liquidated their position, realizing a loss of $14.02 million. Over the past year, this address employed a revolving loan strategy—borrowing USDC against collateralized WBTC to purchase additional WBTC—accumulating a total of 742.8 WBTC at an average cost of approximately $89,137. One hour ago, the whale sold all 742.8 WBTC via FalconX at $70,266 each, repaying $29.75 million in USDC to settle their Aave loan.
Whale closes BTC long position, realizing a $14.02M loss
ChaincatcherShare
Summary
Whale activity trading saw a major BTC long position closed as a whale liquidated 742.8 WBTC at $70,266 via FalconX, repaying a loan on Aave and realizing a $14.02M loss. The whale had employed a stop-loss strategy to manage risk, but the move failed as BTC fell below the average cost of $89,137. Over the past year, the whale had borrowed USDC against WBTC collateral to purchase additional WBTC.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.