A whale who was long on ETH/BTC exchange rate borrowed 50 WBTC 9 hours ago and went long again
According to on-chain analyst Yu Jin, the ETH/BTC exchange rate dropped to 0.044 a few days ago. The ETH/BTC long position holder with the username "0x1111" was forced to liquidate part of their ETH and buy WBTC to repay their debts and reduce their position because they reached the liquidation line. Now that the ETH/BTC exchange rate has rebounded slightly to 0.0466, the user has re-entered the market and increased their long position in ETH/BTC. Nine hours ago, they lent out 50 WBTC (worth 3.35 million US dollars) and sold them for 1,069 ETH. The user's current position health ratio is 1.07 (the liquidation line is at an ETH/BTC exchange rate of 0.0435).
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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