TechFlow reports that on March 24, according to on-chain analyst Ai Aunt (@ai_9684xtpa), a whale who shorted 5,000 ETH at the low point on March 12 has now liquidated their position four hours ago, incurring a loss of $489,000.
The whale borrowed 5,000 ETH to short after collateralizing USDT on Aave when ETH dropped to $1,917. Subsequently, as ETH price steadily rebounded by 5%, the whale eventually bought back all ETH at $2,015 during the market recovery and repaid the loan.
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