James Fickel, a crypto millionaire, lost over $43 million since Jan. 10 as Aave debt grew to $132 million. He bet ETH would rise against BTC but failed. 📉

- Fickel borrowed 3,061 WBTC (172M) from #Aave, exchanging for 56,445 ETH. Since Aug. 7, he spent 12M USDC to buy 211 WBTC and exchanged 16,000 ETH for 671 WBTC to pay off the debt.

Since the beginning of 2024, ETH has fallen more than 24% against BTC, according to Binance data.

- Fickel famously invested $400,000 in ETH when the price was only $0.80.

ETH ETF continues to bleed as Grayscale’s ETHE surpasses $2.7b outflows. Since July 23, ETH ETF has recorded $581 million outflows, causing ETH price to stagnate.

What do you think about Fickel's strategy and the future of ETH? Comment below! 💬#Crypto#Blockchain#BTC#ETH