A certain institutional whale has turned long today.
TL;DR
An institutional whale sold 70,000 ETH for a $24.48M profit from shorting, then turned long by buying 57,700 ETH at $2,820. It now holds 432,000 ETH with a $200M paper loss due to a higher average cost.
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According to ChainCatcher, Ember reported that an institutional whale sold 70,000 ETH (approximately $223 million) at an average price of $3,188 five days ago, profiting $24.48 million from short, and has now turned to long.
Five hours ago, it transferred $153 million USDT to Binance and withdrew 57,700 ETH (approximately $162 million), with an average purchase price of $2,820. Currently, it holds a total of 432,000 ETH (approximately $1.24 billion), with an overall average holding price of $3,332, resulting in a paper loss of approximately $200 million.