According to Chainalysis analyst Yu Jin, James Fickel, a long position holder in the ETH/BTC exchange rate, continued to reduce his long position in the ETH/BTC exchange rate two hours ago: he sold 6,500 ETH (22.24 million US dollars) and exchanged it for 235.6 WBTC for repayment and reduction of positions.
James Fickel’s peak long position in the ETH/BTC exchange rate was at the end of May, when he borrowed 2,987 WBTC (204.7 million US dollars) from Aave and bought ETH at an average rate of 0.054.
Later, as the ETH/BTC exchange rate continued to fall, James Fickel began to reduce his position from August: he redeemed ETH in batches and sold it for WBTC for repayment.
So far, in the four and a half months, he has sold 59,500 ETH and exchanged it for 2,398.2 WBTC for repayment and reduction of positions, with an average exchange rate of 0.04.
His long position in the ETH/BTC exchange rate currently has a loan of 575.3 WBTC.