Foresight News reports that according to Ember Monitoring, ETH/BTC long trader James Fickel reduced his ETH/BTC long position 2 hours ago: selling 6,500 ETH (approximately $22.24 million) to exchange for 235.6 WBTC to repay and reduce his position.
James Fickel's peak ETH/BTC long position was at the end of May, when he borrowed a total of 2,987 WBTC (worth $204.7 million) from Aave, purchasing ETH at an average exchange rate of 0.054. As the ETH/BTC exchange rate continued to decline, James Fickel began to reduce his position in August: gradually redeeming ETH to sell and exchange for WBTC to repay. Over the past four and a half months, he has sold 59,500 ETH to exchange for 2,398.2 WBTC to repay and reduce his position, with an average selling exchange rate of 0.04. He currently still has 575.3 WBTC in borrowings for his ETH/BTC long position.
