ETH whale is finally taking some profit. One whale has been using leverage to build a massive ETH + BTC position, and now it looks like the profit-taking phase has started.
Wallet 0x268…47643 withdrew 79,226 $ETH from Binance during July–August at an average price of around $1,776.83 .... roughly $140M worth at the time.
Since August 19, it has already sent 10,887 ETH, worth about $24.16M, back to exchanges. If those ETH are sold, the whale would lock in roughly $4.82M in profit.
And the interesting part? The stablecoins generated from the sales are reportedly being used to repay its Spark loans. The whale still has plenty of skin in the game, with 47,889 wstETH + 1,200 WBTC posted as collateral against $83.67M USDS borrowed.
Current health factor: 2.26.
So this doesn’t look like a full exit yet .... more like taking profits while paying down the leverage.
Add:0x268448f31594f4636d03cbb4e813b94801e47643
Wallet 0x268…47643 withdrew 79,226 $ETH from Binance during July–August at an average price of around $1,776.83 .... roughly $140M worth at the time.
Since August 19, it has already sent 10,887 ETH, worth about $24.16M, back to exchanges. If those ETH are sold, the whale would lock in roughly $4.82M in profit.
And the interesting part? The stablecoins generated from the sales are reportedly being used to repay its Spark loans. The whale still has plenty of skin in the game, with 47,889 wstETH + 1,200 WBTC posted as collateral against $83.67M USDS borrowed.
Current health factor: 2.26.
So this doesn’t look like a full exit yet .... more like taking profits while paying down the leverage.
Add:0x268448f31594f4636d03cbb4e813b94801e47643