According to Odaily, James Fickel, a trader who has been long on the ETH/BTC exchange rate, has finally seen a profit after several months of stagnation. His long position on the ETH/BTC exchange rate has currently yielded a floating profit of 8.06 million USD (+4%).
From the beginning of this year, he has borrowed 2,981 WBTC (204 million USD) from Aave and sold it to buy 55,015 ETH to go long on the ETH/BTC exchange rate. His cost was at 0.0541. The ETH/BTC exchange rate has now risen to 0.0563. This marks a significant turnaround for Fickel, who has been waiting for this upward trend for several months.