The cryptocurrency intelligence firm Lookonchain has identified a significant loss for ETH/BTC exchange rate bull James Fickel. Fickel’s position has suffered a floating loss of approximately 18,000 ETH, which is equivalent to $43.7 million.
Fickel’s strategy involved borrowing WBTC from Aave and exchanging it for ETH at a favorable exchange rate. However, the recent price movement has resulted in a loss on his position. Fickel currently has a debt of 2,196 WBTC ($132 million) on Aave, and will need to manage this debt to avoid further losses.
