A major whale in the lending loop continues to reduce holdings by 350 WBTC, incurring a loss of $10.16 million.

According to Jinse Finance, as monitored by Ember, a whale who had accumulated large amounts of WBTC and ETH through cyclical lending at high prices has started to reduce its WBTC holdings after selling off 18,517 ETH at a loss of $25.29 million. Over the past week, the whale sold 350 WBTC at an average price of $87,732, exchanging them for 30.7 million USDT. The average cost price was $116,762, resulting in a loss of $10.16 million on the WBTC sold. The whale still holds 1,210 WBTC, which are currently at an unrealized loss of $30.9 million.