A whale exchanged 220 Bitcoin for ETH at the beginning of the year, resulting in an unrealized loss of $8.37 million. Recently, they engaged in frequent trading activities and incurred an additional loss of 105 ETH.
BlockBeatsJun 26, 2025June 26th, According to Chainalysis, a whale had exchanged 220.1 cbBTC (about $20.81 million) for 6,202.4 $ETH at a rate of 0.0354 in early this year. At that time, $BTC was priced at $94,548 and $ETH was priced at $3,355. If the address still holds the assets, its $BTC holding would have appreciated to about $23.72 million, while the current value of the $ETH is only $15.35 million, resulting in a paper loss of up to $8.37 million.
More notably, the address has recently started a new round of arbitrage: 4 days ago, it sold 3,158 $ETH at a price of $2,378 to acquire about 7.51 million $DAI, and then, 3 hours ago today, it repurchased 3,053 $ETH with this $DAI at a price of $2,460. This round of operation resulted in a loss of 105 $ETH (equivalent to about $260,000).
[BlockBeats]
A whale exchanged 220 Bitcoin for ETH at the beginning of the year, resulting in an unrealized loss of $8.37 million. Recently, they engaged in frequent trading activities and incurred an additional loss of 105 ETH.
BlockBeatsJun 26, 2025June 26th, According to Chainalysis, a whale had exchanged 220.1 cbBTC (about $20.81 million) for 6,202.4 ETH at a rate of 0.0354 in early this year. At that time, BTC was priced at $94,548 and ETH was priced at $3,355. If the address still holds the assets, its BTC holding would have appreciated to about $23.72 million, while the current value of the ETH is only $15.35 million, resulting in a paper loss of up to $8.37 million.
More notably, the address has recently started a new round of arbitrage: 4 days ago, it sold 3,158 ETH at a price of $2,378 to acquire about 7.51 million DAI, and then, 3 hours ago today, it repurchased 3,053 ETH with this DAI at a price of $2,460. This round of operation resulted in a loss of 105 ETH (equivalent to about $260,000).
[BlockBeats]
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