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Cryptocurrency News Articles
After a Slight Market Rebound, a Prominent Whale Who Previously Incurred an $8.22 Million Loss from Long-Leveraged Ethereum Positions Is Ramping up Their Investments Again
Oct 07, 2024 at 05:01 pm
Just 10 hours ago, this whale withdrew 1,401 ETH, worth approximately $3.39 million, from Binance.
A prominent whale who previously incurred an $8.22 million loss from long-leveraged Ethereum positions is ramping up their investments again as the market shows signs of a slight rebound.
Just 10 hours ago, the whale withdrew 1,401 ETH, worth approximately $3.39 million, from Binance. They subsequently deposited these funds into Compound and borrowed 2.3 million USDT to reinvest in Binance.
Currently, the whale has pledged a total of 2,794 ETH to borrow 4.53 million USDT, maintaining a health level of 1.23. However, if the price of ETH drops to $1,965, this position risks liquidation.
In a related development, a developer from the Cosmos network, @interchain_io, recently sold 4,000 ETH, valued at about $9.5 million, that was raised during their April 2017 ICO. Over the past five months, they have sold a total of 15,100 ETH, accumulating approximately $37.09 million.
Cosmos Currently Holds 383 BTC And 23,587 ETH After Selling Off Some Position
Cosmos originally raised around $17 million through its ICO, which included 4,882.7 BTC and 246,891 ETH. Since then, the team has sold 4,499 BTC and 223,305 ETH, totaling around $132.2 million based on the transfer prices.
Presently, they hold 383.8 BTC and 23,587 ETH. Thanks to the significant appreciation in BTC and ETH prices over the past seven years, the value of their unsold tokens now exceeds $80.86 million, far surpassing the original funds raised.
On another note, October 4 marked a total net outflow of $3.1955 million from Ethereum spot ETFs, reflecting the ongoing shifts in market sentiment. With these developments, the landscape remains dynamic as investors navigate the evolving crypto space.
On October 4, Bitcoin spot ETF had a net inflow of $25.5859 million, Grayscale ETF GBTC had an outflow of $13.9096 million, Bitwise ETF BITB had an inflow of $15.2854 million, and Fidelity ETF FBTC had an inflow of $13.6262 million. Ethereum spot ETF had a total net outflow of…
— Wu Blockchain (@WuBlockchain) October 5, 2024
The post Prominent Whale Adds Leverage, Cosmos Developers Sell Off ETH, and More — October 5, 2024 first appeared on NullTX.
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