A "whale" that accumulated WBTC and ETH at high prices through revolving loans has sold off 350 WBTC at a loss in the past week.

After a "whale" who had been hoarding WBTC and ETH at high prices through a revolving loan scheme sold off his entire holdings, incurring a loss of $25.29 million on 18,517 ETH, he also began selling off his WBTC at a loss. Over the past week, he sold 350 WBTC at an average price of $87,732, exchanging them for 30.7 million USDT. His WBTC cost price was $116,762, resulting in a loss of $10.16 million on this sale. His remaining 1,210 WBTC are now showing a paper loss of $30.9 million.