👀Famous ETH/BTC speculator James Fickell has been buying at the ETH/BTC rate for a whole year and is done today:
He sold 6,429 ETH ($21.45 million) 4 hours ago for 227 WBTC and paid off all of his WBTC debt.
He has incurred losses of $68.84 million ($20,632 ETH) on his ETH/BTC rate buying over the course of a whole year:
◎ In the first half of the year, he borrowed 2,987 WBTC via Aave at a rate of 0.054, and sold it for 55,315 ETH to buy at the ETH/BTC rate;
◎ Starting in August, he started selling ETH to buy WBTC to pay off debt, spending a total of 75,947 ETH at a rate of 0.0393 to buy 2,987 WBTC to pay off;
◎ In the end, he suffered a loss of 20,632 ETH ($68.84 million) buying the ETH/BTC rate.
The biggest speculators in the ETH/BTC rate have given up, should Ethereum rise now 😂