PANews reported on November 20th that, according to on-chain analyst Yu Jin, a "whale that hoarded WBTC and ETH at high prices through revolving loans" sold off 18,517 ETH (worth $56.45 million) in two days to avoid liquidation, incurring a loss of $25.29 million. After selling off the ETH, the remaining 1,560 WBTC also suffered significant unrealized losses: with a cost price of $116,762, the unrealized loss is $41.12 million.