SIGN UP
Menu

Blog

Home » News »
Home News The whale that previously borrowed coins to short ETH is suspected to have engaged in a “short squeeze,” having withdrawn 144,255 ETH from Binance.

The whale that previously borrowed coins to short ETH is suspected to have engaged in a "short squeeze," having withdrawn 144,255 ETH from Binance.

The whale that previously borrowed coins to short ETH is suspected to have engaged in a “short squeeze,” having withdrawn 144,255 ETH from Binance.
The whale that previously borrowed coins to short ETH is suspected to have engaged in a “short squeeze,” having withdrawn 144,255 ETH from Binance.

BlockBeats News, November 5th, according to on-chain analyst Yu Jin’s monitoring, on October 20th, a whale/institution borrowed 66,000 ETH for a short sale, and yesterday bought back the repayment to earn a profit of $24.48 million. It should have turned back to a long position: from last night to this morning, the whale/institution transferred a total of 482 million USDC to Binance, then withdrew 144,255 ETH from Binance, with an average price possibly around $3,341.

This USDC was the collateral for his ETH short sale last month: at that time, he withdrew 700 million USDC from Binance to collateralize and borrow 66,000 ETH for a short sale. After repaying the ETH yesterday, he retrieved the USDC collateral to start buying ETH.

Related articles

View More
Close