The post Whale Investor Increases ETH Position with $3.39 Million Withdrawal Amid Market Rebound appeared on BitcoinEthereumNews.com.

On October 5, COINOTAG reported insights from on-chain data analyst @ai_9684xtpa, revealing strategic maneuvers by a prominent cryptocurrency investor. This notable investor, previously known for a substantial $8.22 million long position loss in Ethereum (ETH), has shown increased market activity as conditions improved. Recently, the investor withdrew 1,401 ETH, valued approximately at $3.39 million, from Binance and subsequently invested it into Compound. Following this transaction, the investor borrowed 2.3 million USDT to add liquidity back to Binance. The investor’s current strategy involves pledging a total of 2,794 ETH to secure a loan of 4.53 million USDT, maintaining a health level of 1.23. It is crucial for stakeholders to note that if ETH‘s price declines to $1,965, this position is at risk of liquidation, underscoring the delicate balance within cryptocurrency lending markets. Source: https://en.coinotag.com/breakingnews/whale-investor-increases-eth-position-with-3-39-million-withdrawal-amid-market-rebound/

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Filed under: News - @ October 5, 2024 3:02 am