TechFlow news, November 20: According to on-chain analyst EmberCN (@EmberCN), a certain whale that previously leveraged 1,320 WBTC via circular lending has continued selling 175 WBTC within five hours, exchanging them for 16.18 million USDC, completing its leveraged position liquidation.
When BTC dropped to the $100,000 level on November 5, this whale's position approached its liquidation threshold and subsequently began reducing exposure to mitigate risk. Over the past half month, this address has cumulatively sold 725.8 WBTC for 71.81 million USDC to repay loans, at an average selling price of $98,939. The address currently still holds 618.2 WBTC, worth approximately $57 million.
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