Mars Finance News reported on July 4th that prominent ETH/BTC trader James Fickel executed significant transfers totaling 80,000 ETH to Coinbase Prime, valued at approximately $204 million. According to Yujin monitoring, 30,000 ETH and an additional 50,000 ETH were moved to Coinbase Prime custody addresses within a 20-minute window. Fickel has maintained a leveraged long position on the ETH/BTC pair over the past year, employing a strategy of pledging ETH to borrow BTC, subsequently selling BTC to acquire more ETH, and repeating this cycle. Despite this approach, he has incurred a substantial loss of 20,632 ETH, equating to roughly $68.84 million, highlighting the inherent risks in leveraged crypto trading. This transaction underscores the ongoing volatility and strategic repositioning within the ETH/BTC market, reflecting broader trends in institutional crypto asset management.
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