One of the largest traders in cryptocurrencies closed his longs in WBTC and ETH and made a profit of $7 million. He sold 76.6 WBTC and 2,265 ETH for $13.19 million. This was the end of a leveraged investment plan that he started by borrowing funds from Aave with 5,545 ETH as collateral to purchase more ETH and WBTC. The profits from this investment amounted to $6.98 million and the collateral ETH also appreciated by 70% within this period.
According to the reports, a whale sold 76. 6 WBTC and 2,265 ETH an hour and a half ago and traded for $13. 19 million. This sale cleared his leveraged longs in WBTC and ETH, which he had since July last year at a $6 profit. 98 million.
The whale took a loan from Aave and provided 5,545 ETH to purchase 3,826. Five ETH at $2,482 each, and 134. 2 WBTC at $46,851 each. He sold a part of his WBTC and ETH today to repay his Aave loan and earned a profit of $6. 98 million (879 ETH and 57. 5 WBTC). Also, the collateral of 5,545 ETH has increased in value by $8. 27 million people, or 70% more than last year.
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Whale started his investment plan by borrowing from Aave and putting up 5,545 ETH as collateral. With this loan, he purchased 3,826. 5 ETH at $2,482 each and 134.2 WBTC at $46,851 each. This made it possible for him to increase his influence in the game, thereby increasing potential gains of ETH and WBTC prices.
According to the reports, the trader disposed of 76 on June 176 WBTC and 2,265 ETH for $13.19 million. This sale was made a mere one and a half hours from the time the report was written, leading to a $6.98 million profit. Specifically, the whale managed to shed all his leveraged longs in WBTC and ETH, which he had held since July of the prior year, by selling a part of his holdings.
Besides the cash gains from the sales, the whale used 5,545 ETH as collateral, which increased by 70% by the time of the investment period. Originally used as a guarantee of the loan, this asset rose in value by $8.27 million, which, in turn, improved the trader’s overall profit.
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This mind-blowing trade shows that there is so much money that can be made in the cryptocurrency market, provided one uses their assets well. Through the utilization of Aave’s lending platform and proper entry and exit points, this particular crypto whale was able to illustrate the importance of an appropriate investment strategy. His success story can help other traders interested in getting the highest revenues in the highly risky field of cryptocurrencies.
