TechFlow news, November 4 — according to on-chain analyst EmberCN (@EmberCN), a whale/institution that previously borrowed and shorted 66,000 ETH at around $4,032 has now closed the majority of its position for profit.
The whale has just withdrawn another 24,025 ETH (worth $83.9 million) from Binance to repay its loan. Over the past day, this whale has withdrawn a total of 64,044 ETH (worth $235 million) from Binance to repay and close its short position, at an average price of $3,668.
By borrowing and shorting at $4,032 and buying back at $3,668 to repay, the whale has made a profit of $23.31 million.
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