Whale exchanged 220 BTC for ETH at the beginning of the year and currently has unrealized losses of 8.37 million USD. Recently, they started frequent operations and incurred an additional loss of 105 ETH.

Odaily News According to Yu Jin monitoring, whales exchanged 220.1 cbBTC (approximately 20.81 million USD) at an exchange rate of 0.0354 for 6,202.4 ETH at the beginning of the year, when BTC was priced at 94,548 USD and ETH at 3,355 USD. If this address holds the coins until now, its BTC holdings would appreciate to about 23.72 million USD, while the current value of ETH is only 15.35 million USD, resulting in unrealized losses of up to 8.37 million USD. What is more noteworthy is that this Address recently initiated a new round of swing trading: 4 days ago, it sold 3,158 ETH at a price of $2,378, exchanging it for approximately 7.51 million DAI, and then 3 hours ago today, it repurchased 3,053 ETH with this DAI at a price of $2,460. This round of operations resulted in a loss of 105 ETH (approximately $260,000).