Accordingtocryptocurrencyonchaindata,ananonymouscryptotraderwithasizablefortunesufferedsignificantlossesinhisrecenttrades.
AccordingtodataprovidedbyLookonchain,traderJamesFickelopenedalongpositionintheBTC/ETHpair,incurringatotallossof22,500ETH,or$55million.
ThedatashowsthatFickelborrowed3,061WBTCondecentralizedcryptocurrencyplatformAaveandtradedthemfor56,445ETHbetweenJanuary10andJuly1.Atthetimeoftheswap,theparitywasat0.05424.
SinceAugust7,hespent$12millioninUSDCtobuy211WBTCandexchanged47,476ETHfor1,888WBTC,equivalentto$113.5million,whichhethenusedtopayoffhisdebtonAave.
Asaresult,Fickelcurrentlyowes980WBTConAave,worth$132million,andhaslostatotalof$55milliontodate.
WhenFickel\'scryptocurrencywalletisexamined,itisnoteworthythathedoesnotholdanyothercryptocurrencies.
*Thisisnotinvestmentadvice.
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