<\/p>\n
A crypto whale recently lost more than $4.5 million attempting to long Ethereum (ETH<\/a>) twice, according to the digital asset tracker Lookonchain.<\/p>\n Lookonchain notes<\/a> the whale lost $500,000 on their first attempt to long the top smart contract platform, then lost a lot more on their second try.<\/p>\n \u201cThis whale sold all 10,701 ETH ($33 million) on Binance to repay debt two hours ago, losing more than $4 million again!<\/em><\/p>\n He went long ETH by depositing ETH on Compound and borrowing USDT to buy more ETH.\u201d<\/em><\/p>\n Compound (COMP<\/a>) is a decentralized lending platform.<\/p>\n Lookonchain notes<\/a> that other whales are accumulating Ethereum. One withdrew 10,000 ETH worth $31.5 million from Binance on Monday and staked it into the decentralized finance (DeFi) project Pendle (PENDLE<\/a>) and Renzo, a liquid restaking token for EigenLayer. EigenLayer is a restaking protocol built on ETH.<\/p>\n The other whale withdrew 5,282 ETH worth $48.2 million from the crypto exchanges Binance and OKX on Monday.<\/p>\n ETH is trading at $3,093 at time of writing. The second-ranked crypto asset by market cap is down nearly 12% in the past week and more than 14% in the past month.<\/p>\n Ethereum is also more than 36% down from its all-time high of $4,878, which it set back in November 2021, according to CoinGecko<\/a>.\u00a0<\/span><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>  <\/p>\n Generated Image: DALLE3<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" A crypto whale recently lost more than $4.5 million attempting to long Ethereum (ETH) twice, according to the digital asset tracker Lookonchain. Lookonchain notes the whale lost $500,000 on their first attempt to long the top smart contract platform, then lost a lot more on their second try. \u201cThis whale sold all 10,701 ETH ($33 […]<\/p>\n","protected":false},"author":2,"featured_media":284758,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-284757","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/284757","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=284757"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/284757\/revisions"}],"predecessor-version":[{"id":284760,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/284757\/revisions\/284760"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/284758"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=284757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=284757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=284757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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