Whale nemorino.eth closed positions of 8,000 ETH to repay debts and exited leverage, making a profit of 7.58 million dollars from a six-month long ETH circular loan

According to on-chain analyst Yu Jin, the whale address nemorino.eth sold 8,000 ETH at an average price of $3,609 after the drop in ETH, cashing out $28.87 million, and subsequently repaid a loan of $24.83 million on Aave, eliminating all leverage risk.

This round of operations started in May with a principal of 7.7 million USDC, during which a total of 10,914 ETH was purchased at an average price of $2,946. Ultimately, the six-month revolving loan long strategy realized a profit of $7.58 million, with a return rate of 98%.