Whale Who Borrowed to Buy ETH in June Sells at $4.3M Profit

BitcoinWorld Whale Who Borrowed to Buy ETH in June Sells at $4.3M Profit An anonymous Ethereum whale has closed a profitable position initiated earlier this year, locking in approximately $4.3 million in gains.

The move, which involved a leveraged bet using a DeFi lending protocol, highlights the ongoing trend of large holders taking profits amid market volatility.

Details of the Trade According to on-chain analytics service EmberCN, the wallet address beginning with 0x7099 borrowed 30 million USDS from the lending protocol Spark on June 7. The funds were then used to purchase 18,212 ETH at an average price of $1,647 per token.

Today, the same wallet sold 15,993 ETH at an average price of $1,889, repaying the loan with 30.20 million USDS. The remaining ETH, along with the price difference, netted the whale an estimated profit of $4.3 million.