According to Wu, James Fickel, a die-hard bull on the ETH/BTC exchange rate, sold 3,000 ETH in exchange for 124 WBTC to repay his loan after last night's drop.
His long position in the ETH/BTC exchange rate has been reduced significantly as the ETH/BTC exchange rate has continued to decline.
At its peak, he borrowed and sold as much as 2,981 WBTC at the end of May, and now has 2,316.
