Leveraged whale sells some ETH, uses proceeds to repay loan

A whale address beginning with 0x268, which had been buying Ethereum and Bitcoin with leverage, has started taking profits by selling part of its ETH holdings, on-chain analyst ai_9684xtpa said on X. The address withdrew a total of 79,226.49 ETH, worth about $140 million, from Binance in July and August at an average price of $1,776.83. Since Aug. 19, it has deposited 10,887.15 ETH, worth about $24.16 million, to exchanges. If all of that amount is sold, the estimated profit would be about $4.817 million. All stablecoins secured from the ETH already sold were used to repay a Spark (SPK) loan. The address currently has 47,889 wstETH and 1,200 WBTC posted as collateral and has borrowed 83.67 million USDS.