PANews reported on November 4th that, according to on-chain analyst Yu Jin, the whale address nemorino.eth sold 8,000 ETH at an average price of $3,609 after the ETH price drop early this morning, realizing $28.87 million. It then used this proceeds to repay a $24.83 million loan from Aave, eliminating all leveraged risk. This operation began in May with a principal of 7.7 million USDC, during which time it accumulated 10,914 ETH purchases at an average price of $2,946. Ultimately, this six-month revolving loan strategy yielded a profit of $7.58 million, representing a return of 98%.PANews reported on November 4th that, according to on-chain analyst Yu Jin, the whale address nemorino.eth sold 8,000 ETH at an average price of $3,609 after the ETH price drop early this morning, realizing $28.87 million. It then used this proceeds to repay a $24.83 million loan from Aave, eliminating all leveraged risk. This operation began in May with a principal of 7.7 million USDC, during which time it accumulated 10,914 ETH purchases at an average price of $2,946. Ultimately, this six-month revolving loan strategy yielded a profit of $7.58 million, representing a return of 98%.
whale nemorino.eth closed out 8,000 ETH to pay off debts and exit leverage; he had made a profit of $7.58 million over six months by using revolving loans to go long on ETH.
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PANews reported on November 4th that, according to on-chain analyst Yu Jin, the whale address nemorino.eth sold 8,000 ETH at an average price of $3,609 after the ETH price drop early this morning, realizing $28.87 million. It then used this proceeds to repay a $24.83 million loan from Aave, eliminating all leveraged risk. This operation began in May with a principal of 7.7 million USDC, during which time it accumulated 10,914 ETH purchases at an average price of $2,946. Ultimately, this six-month revolving loan strategy yielded a profit of $7.58 million, representing a return of 98%.
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