PANews reported on December 28 that according to on-chain analyst Ember’s monitoring, ETH/BTC exchange rate bull James Fickel sold 6429 ETH (US$21.45 million) for 227 WBTC 4 hours ago to pay off all WBTC loans. James Fickel has been long on the ETH/BTC exchange rate for a whole year and lost US$68.84 million (20,632 ETH):
- In the first half of the year, I borrowed 2,987 WBTC through Aave at an exchange rate of 0.054 and sold them for 55,315 ETH to go long on the ETH/BTC exchange rate;
- Since August, ETH has been sold to buy back WBTC to repay the loan. A total of 75,947 ETH was spent to buy back 2,987 WBTC at an exchange rate of 0.0393 to repay the loan.
- In the end, he lost 20,632 ETH ($68.84 million) on the long ETH/BTC exchange rate.
