TechFlow news, on July 4, according to on-chain analyst Onchain Lens (@OnchainLens), James Fickel (@jamesfickel), a bullish investor in the ETH/BTC exchange rate, has deposited 80,000 Ethereum (ETH) worth approximately $204 million into Coinbase Prime. The wallet currently still holds 7,278.87 ETH, valued at around $18.56 million.
On-chain analyst Yujin noted that James Fickel was consistently long on the ETH/BTC exchange rate throughout last year: borrowing BTC by collateralizing ETH, selling the BTC, and then using the proceeds to buy more ETH for further collateralization. He incurred losses of 20,632 ETH ($68.84 million) on his ETH/BTC long position.
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