Whale Sells 50 WBTC on Binance, Securing $55.62 Million Profit from Strategic WBTC Holdings
The post Whale Sells 50 WBTC on Binance, Securing $55.62 Million Profit from Strategic WBTC Holdings appeared on BitcoinEthereumNews.com. A whale recently sold 50 WBTC on Binance, securing $5.9 million in profits from a total 1,495 WBTC holdings acquired via circular lending between July and November 2024. Whale accumulated 1,495 WBTC worth $103 million through circular lending in late 2023. Since March 2024, the whale has sold 923 WBTC at an average price of nearly $100,000, repaying loans with USDC. COINOTAG reports total profits of $55.62 million, combining realized and unrealized gains. WBTC whale sells 50 WBTC on Binance, realizing $5.9M profit from $103M holdings. Discover key insights on institutional WBTC trading and market impact. How Did the Whale Accumulate 1,495 WBTC Through Circular Lending? The whale acquired 1,495 WBTC between July and November 2024 using circular lending strategies, effectively leveraging borrowed assets to increase holdings. This approach allowed the institution to accumulate Wrapped Bitcoin valued at approximately $103 million at an average price of $69,162 per WBTC. What Is Circular Lending and Its Role in WBTC Accumulation? Circular lending involves borrowing assets repeatedly to amplify purchasing power without additional capital. This method enabled the whale to build a significant WBTC position while managing loan repayments through strategic sales and stablecoin conversions. What Are the Details of the Whale’s Recent WBTC Sales on Binance? Since March 2024, the whale has sold 923 WBTC in batches on Binance, averaging a selling price of $99,957 per WBTC. These sales generated approximately $92.26 million, which were largely converted into USDC to repay the borrowed funds. How Much Profit Has the Whale Realized and What Remains? COINOTAG data shows the whale’s total profit on WBTC stands at $55.62 million, including $28.42 million in realized gains from sold WBTC and $27.20 million in unrealized gains from the remaining 553.8 WBTC, currently valued at $65.51 million. Metric Value Comparison WBTC Accumulated 1,495 WBTC July-November 2024…
The post Whale Sells 50 WBTC on Binance, Securing $55.62 Million Profit from Strategic WBTC Holdings appeared on BitcoinEthereumNews.com.
A whale recently sold 50 WBTC on Binance, securing $5.9 million in profits from a total 1,495 WBTC holdings acquired via circular lending between July and November 2024. Whale accumulated 1,495 WBTC worth $103 million through circular lending in late 2023. Since March 2024, the whale has sold 923 WBTC at an average price of nearly $100,000, repaying loans with USDC. COINOTAG reports total profits of $55.62 million, combining realized and unrealized gains. WBTC whale sells 50 WBTC on Binance, realizing $5.9M profit from $103M holdings. Discover key insights on institutional WBTC trading and market impact. How Did the Whale Accumulate 1,495 WBTC Through Circular Lending? The whale acquired 1,495 WBTC between July and November 2024 using circular lending strategies, effectively leveraging borrowed assets to increase holdings. This approach allowed the institution to accumulate Wrapped Bitcoin valued at approximately $103 million at an average price of $69,162 per WBTC. What Is Circular Lending and Its Role in WBTC Accumulation? Circular lending involves borrowing assets repeatedly to amplify purchasing power without additional capital. This method enabled the whale to build a significant WBTC position while managing loan repayments through strategic sales and stablecoin conversions. What Are the Details of the Whale’s Recent WBTC Sales on Binance? Since March 2024, the whale has sold 923 WBTC in batches on Binance, averaging a selling price of $99,957 per WBTC. These sales generated approximately $92.26 million, which were largely converted into USDC to repay the borrowed funds. How Much Profit Has the Whale Realized and What Remains? COINOTAG data shows the whale’s total profit on WBTC stands at $55.62 million, including $28.42 million in realized gains from sold WBTC and $27.20 million in unrealized gains from the remaining 553.8 WBTC, currently valued at $65.51 million. Metric Value Comparison WBTC Accumulated 1,495 WBTC July-November 2024…
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