Whale Sells 50 WBTC on Binance, Securing $55.62 Million Profit from Strategic WBTC Holdings
Main Idea
A whale sold 50 WBTC on Binance, securing $5.9 million in profits from a total of 1,495 WBTC holdings acquired through circular lending, with total profits reaching $55.62 million.
Key Points
1. The whale accumulated 1,495 WBTC worth $103 million through circular lending between July and November 2024.
2. Since March 2024, the whale has sold 923 WBTC at an average price of nearly $100,000, repaying loans with USDC.
3. Total profits amount to $55.62 million, including $28.42 million in realized gains and $27.20 million in unrealized gains from remaining holdings.
4. Circular lending allowed the whale to amplify purchasing power and manage loan repayments strategically.
5. The recent sale of 50 WBTC was aimed at realizing profits and repaying loans.
Description
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