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Last year, a Whale/institution accumulated 1495 WBTC through circular loans and has recently been selling WBTC to take profit.
Gate News bot message, according to on-chain analyst Yu Jin's monitoring, during the period from July to November 2024, a Whale/institution accumulated 1,495 WBTC through circular lending and has recently been selling WBTC to take profit. This Whale/institution currently has a total profit of 49.75 million USD on WBTC: the sold portion has realized profits of 19.17 million USD, and the unsold portion has unrealized gains of 30.58 million USD.
The Whale/institution purchased 1,495 WBTC at an average price of $69,162 using a revolving loan in the second half of last year, and then started to gradually transfer batches of WBTC to Binance for sale and withdraw USDC for repayment from March this year. So far, they have sold 723 WBTC for 69.17 million USDC and repaid the loan, with an average selling price of $95,678. They still hold 753.8 WBTC (82.6 million dollars).