PANews reported on November 3rd that, according to Yu Jin, a suspected institutional whale that pledged 700 million USDC to borrow 66,000 ETH and transferred them to Binance two weeks ago may have completed a short-selling operation on ETH. The address withdrew 20,000 ETH from Binance an hour and a half ago, worth approximately $78.15 million, suggesting it may be covering its short position. The ETH price was $4032 when the short position was opened, and it is currently at $3850, with an estimated profit of approximately $12 million from this operation.
A suspected institutional whale withdrew 20,000 ETH from Binance, worth approximately $78.15 million.
Share to:
Follow PANews official accounts, navigate bull and bear markets together
Recommended Reading
x402 Protocol: A New Standard for Agent Payments
The x402 protocol aims to solve the core payment dilemma in the AI Agent economy through blockchain technology, providing an autonomous and low-cost on-chain payment solution for high-frequency, small-amount transactions between AI Agents.
Pioneer's View: Crypto Celebrity Interviews
Exclusive interviews with crypto celebrities, sharing unique observations and insights
PAData: Web3 in Data
Data analysis and visual communication of industry hot spots help users understand the meaning and opportunities behind each data.
A complete review of the 1011 encryption storm
An in-depth review of the epic liquidation events of October 11: from the Trump tariff black swan event to high-leverage margin calls, stablecoin depegging, and market maker liquidity depletion.
ETHShanghai 2025: Discussing the Future of Ethereum
The theme of this conference is "Expanding Ethereum, Shaping an Open Future". It is co-hosted by the Chinese-speaking blockchain builder community ETHPanda, Wanxiang Blockchain Labs, PANews and TinTinLand.
AI Agent: The Journey to Web3 Intelligence
The AI Agen innovation wave is sweeping the world. How will it take root in Web3? Let’s embark on this intelligent journey together