Whale Sells 3,987 WETH for WBTC to Repay Aave Loans, Ending a Year-Long Long Position

On November 1, on-chain data analyst @ai_9684xtpa reported a significant development in the crypto market.

A prominent whale, long invested in the ETH/BTC trading pair, liquidated 3,987 WETH, equating to approximately $10.05 million at an average selling price of $2,519.

This strategic move, executed within a span of four hours, involved converting assets to WBTC to fulfill outstanding Aave loans, thereby completely unwinding its prolonged position.

Over the past year, this address has faced substantial challenges, accumulating losses exceeding $22.45 million from its long trades.

Initially, to combat potential liquidation, the whale had employed flash loans as a tactical maneuver.

This decisive action marks the end of a year-long engagement in an unfavourable exchange rate, reflecting the dynamic strategies employed by institutional players in the crypto sector.