THE major investor James Fickelconsidered a whale of cryptocurrencies in the market, indicated concerns about Ethereum.
This is because the market has been closely following the whale’s investments, as his public address has become known. For example, in recent months it was discovered that Fickel opened a million-dollar position in the ETH/BTC pair, indicating his belief in the rise of Ethereum over Bitcoin.
Some of the optimism came from requests for approval of Ethereum ETFs in the United States, but after the launch of financial products, James appears to have new thoughts.
Cryptocurrency Whale Liquidates Bullish Position on Ethereum vs. Bitcoin
James Fickel is the founder of the Amaranth Foundation, which researches longevity and neuroscience. And since January 2024, he opened a position worth thousands of dollars in ETH/BTC, indicating that he believed more in the rise of Ethereum than in Bitcoin.
But last Saturday (10), the market realized that it was starting to abandon its bullish position on Ethereum. The operations all took place in a DeFi environment.
According to the Spot on chaina company that tracks and analyzes cryptocurrency portfolios, the cryptocurrency whale still has a million dollar loss after showing optimism with Ethereum against Bitcoin.
“James Fickle has started reducing his long ETH/BTC position! In the past 7 hours, James Fickle has exchanged $10,000 ETH ($26.1 million) for $425.8 WBTC to pay off the loan on Aave. Notably, James Fickel became super bullish on the ETH/BTC trading pair after the Bitcoin ETF launched on January 10, 2024. He continuously borrowed $3,061 WBTC from Aave and exchanged it for $56,445 ETH at a rate of 0.05424. Currently, he still has $2,439 WBTC ($149 million) borrowed and an estimated total loss of $38.5 million at the current ETH/BTC rate of 0.043.”
James Whimsical (@jamesfikel) started reducing his ETH/BTC long position!
In the last seven hours James Fickle has traded 10,000 $ETH ($26.1 million) for 425.8 $WBTC to repay the loan to Aave.
James Fickel in particular became super bullish on the ETH/BTC trading pair after the Bitcoin ETF… https://t.co/CrX8WpA147 pic.twitter.com/YXik8bmx8d
— Spot On Chain (@spotonchain) August 11, 2024
The fifth richest cryptocurrency investor in the world?
In April 2024, the Arkham has released a list of the top cryptocurrency whales in the worldwhere such mega-investors are well-known individuals.
And in the first position the research revealed that Justin Sun was the richestfollowed by Rain Lohmus. In third place came Vitalik Buterin and in fourth place Stefan Thomas. Like this, James Fickel was the fifth largest cryptocurrency whale in the worldand could even drop to third position as Rain and Stefan do not have the password to access their fortune, which is considered lost.
“Our team has assembled a panel of 10 of the wealthiest individuals with cryptocurrencies tagged in Arkham. Top 5: Justin Sun ($1.1 billion), Rain Lohmus ($793 million – priceless), Vitalik Buterin ($782 million), Stefan Thomas ($452 million – priceless), James Fickel ($446 million) .”
Our team has created a dashboard of the 10 richest individuals with crypto holdings tagged on Arkham.
The top 5:
Justin Sun ($1.1 billion)
Rain Lohmus ($793 million – inaccessible)
Vitalik Buterine ($782 million)
Stefan Thomas ($452 million – inaccessible)
James Fickel ($446 million) pic.twitter.com/efOTys9PMo— Arkham (@ArkhamIntel) April 15, 2024
Finally, the new stance of exiting Ethereum’s open position against Bitcoin caught the market’s attention this weekend, showing that whales are attentive and concerned about the future of the second-largest cryptocurrency.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
