Whale Trader Borrowing ETH for Short-Selling Initiates Profit-Taking, Repays 7,000 ETH, and Earns Around $190,000

BlockBeats News, June 10th, according to on-chain analyst ai_9684xtpa, the whale that previously shorted ETH through borrowing has started to take partial profits. During June 8th to 9th, the address accumulated around $132 million worth of stablecoins borrowed through Aave, borrowed and sold 35,000 ETH at an average price of $1672.

2 hours ago, the whale first withdrew 7,000 ETH from Binance and returned it to Aave to repay the loan. Based on the previous sell price, this partial position has realized approximately $190,000 in profit.

Currently, the address still has around 28,000 ETH borrowed and not yet returned, corresponding to the remaining short position. On-chain data shows that the peak size of this round of borrowing and shorting was around $58.5 million.