A whale, dormant for 5 years, went long on ETH using a crypto-based strategy: it pledged 44,500 ETH to borrow 70 million USDT and bought ETH.

PANews reported on February 2nd that, according to on-chain analyst Yu Jin, a whale/institution that had been dormant for five years made a long position on ETH in the early hours of today: it pledged 44,500 ETH (US$102 million) and borrowed 70 million USDT to buy 30,222 ETH at a price of US$2,316. ​​The whale's pledged ETH was withdrawn from Bitfinex five years ago when the ETH price was US$1,354. The current profit is US$42.57 million.

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Author: PA一线

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