James Fickel Moves $204M in ETH to Coinbase Amid $68M Loss on ETH/BTC Long Position
The post James Fickel Moves $204M in ETH to Coinbase Amid $68M Loss on ETH/BTC Long Position appeared on BitcoinEthereumNews.com.
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. ‘, ‘ 🔒 Secure and Fast TransactionsDiversify your investments with a wide range of coins. Join now! ‘, ‘ 💎 The Easiest Way to Invest in CryptoDont wait to get started. Click now and discover the advantages! ‘ ]; var adplace = document.getElementById(“ads-binance”); if (adplace) { var sessperindex = parseInt(sessionStorage.getItem(“adsindexBinance”)); var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBinance.length) : sessperindex; adplace.innerHTML = adscodesBinance[adsindex]; sessperindex = adsindex === adscodesBinance.length – 1 ? 0 : adsindex + 1; sessionStorage.setItem(“adsindexBinance”, sessperindex); } })(); Source: https://en.coinotag.com/breakingnews/james-fickel-moves-204m-in-eth-to-coinbase-amid-68m-loss-on-eth-btc-long-position/
