ETH/BTC exchange rate bull whale James Fickel has fallen today! Tears were shed as he sold off his long position in the ETH/BTC exchange rate held for a year.

Sold 6,429 ETH ($21.45M) for 227 WBTC 4 hours ago to pay off all WBTC loans, with a cumulative loss of $68.84 million (20,632 ETH):

In the first half of the year, borrowed 2,987 WBTC through Aave at an exchange rate of 0.054, selling for 55,315 ETH to go long on the ETH/BTC exchange rate;

Started selling ETH to buy back WBTC for repayment from August, spending a total of 75,947 ETH to buy back 2,987 WBTC at an exchange rate of 0.0393 for repayment;

This giant is also a heavy follower of ETH, ultimately ending his one-year position with a floating loss of $68.84 million.

Conclusion: Leveraged cryptocurrency trading is not viable; even the biggest whales are doomed!!

With the giant gone, is Ethereum about to take off?

The last time it bottomed at 2400, many ancient whales couldn't hold on and it took off!!