Trader with $569 Million Cryptocurrency in Wallet Starts a New Trade

Some transactions made by cryptocurrency trader James Fickel caught the attention of onchain viewers.

According to the data, Fickel recently purchased 3,534 Ethereum at an average price of $2,547, spending 9 million USDC.

According to the data, this trader seems to be generally successful in collecting ETH at a low price and then selling them at a high price. Fickel's two cryptocurrency wallets contain 226 thousand ETH worth a total of $569 million.

Since January 10, the trader has purchased $97.6 million of ETH at an average price of $3,158 and sold $65.7 million of ETH at an average price of $3,431.

At the time of this writing, ETH price is trading at $2,521 and has lost 23% of its value in the last seven days.

Additionally, data shows that the analyst has held a long position in ETH/BTC since January 10.

Additionally, the trader borrowed 3,061 Wrapped Bitcoin (WBTC) worth $172 million via decentralized finance platform Aave and converted it into 56,445 ETH at a rate of 0.05424.

*This is not investment advice.