A whale who was long ETH with leverage sold $82.52 million of ETH in the past 2 hours and still made a profit of $22.26 million

According to TechFlow, an on-chain analyst, Ember, monitored that a whale who previously leveraged long ETH on the chain sold 26,600 ETH in exchange for $82.52 million USDT in the past two hours to unload leverage, causing ETH to fall by $100 (from $3,160 to $3,060).

This whale used 1/5 of the on-chain leverage to buy ETH, borrowed 48 million U to buy 21,192 ETH at $2,265, and held it for half a year. Until recently, the market took a sharp turn for the worse, and the whale sold 26,600 ETH at an average price of $3,102 two hours ago in exchange for $82.52 million USDT to repay the loan on Aave.

Because the whale bought at a low enough price, he still realized a profit of $22.26 million (+37%) by selling it now.