[Whale switches to long: massive ETH buyback nets $24.48M profit] On October 20, a whale/institution borrowed 66,000 ETH for short selling. Yesterday, they bought back ETH to repay the loan, earning $24.48M in profit. It seems they've now switched to long positions in a big way: from last night to this morning, they transferred $482M USDC into Binance and withdrew 144,255 ETH from Binance, with an average price likely around $3,341. These USDC funds were the collateral for the ETH short position they initiated last month: at that time, they withdrew $700M USDC from Binance, used it as collateral on Aave, and borrowed 66,000 ETH for short selling. After repaying the ETH loan yesterday, they retrieved the USDC collateral and started buying ETH. https://intel.(((arkm.com)))/explorer/address/0xFaf1358Fe6a9FA29A169Dfc2720亿14E709f54840f https://intel.(((arkm.com)))/explorer/address/0xE5C248D8d3F3871bD0f68E9C4743459C430亿B4e4c https://intel.(((arkm.com)))/explorer/address/0x6e9e81EfCC4CBff68eD04c4a90AeA33cB22c8c89 ------------------------------------------------------------ ｜Save the most on fees, grab the best rewards, become a VIP—head to Bitget!