By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
KriptotekaKriptoteka
  • Home
  • News
    • Web3
    • Crypto News
    • Market Analysis
  • Market
    • AI
    • Altcoins
    • Bitcoin
    • Blockchain
    • CEX
    • Defi
    • DePIN
    • DEX
    • ETFs
    • Ethereum
    • Gaming
    • ICO/IDO
    • Institutions
    • L1&L2
    • Meme
    • NFT tech
    • RWA
    • Stable coins
  • Data
  • Events
  • Learn
  • Reports
  • Podcasts
  • Pro membership
Reading: James Fickel Loses $43 Million on Ethereum Long After Profit Miss
Share
Notification Show More
Font ResizerAa
Font ResizerAa
KriptotekaKriptoteka
  • Home
  • News
  • Market
  • Data
  • Events
  • Learn
  • Reports
  • Podcasts
  • Pro membership
  • Home
  • News
    • Web3
    • Crypto News
    • Market Analysis
  • Market
    • AI
    • Altcoins
    • Bitcoin
    • Blockchain
    • CEX
    • Defi
    • DePIN
    • DEX
    • ETFs
    • Ethereum
    • Gaming
    • ICO/IDO
    • Institutions
    • L1&L2
    • Meme
    • NFT tech
    • RWA
    • Stable coins
  • Data
  • Events
  • Learn
  • Reports
  • Podcasts
  • Pro membership
Have an existing account? Sign In
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Kriptoteka > Market > Ethereum > James Fickel Loses $43 Million on Ethereum Long After Profit Miss
Ethereum

James Fickel Loses $43 Million on Ethereum Long After Profit Miss

marcel.mihalic@gmail.com
Last updated: September 17, 2024 1:25 am
By marcel.mihalic@gmail.com 3 Min Read
Share
SHARE

Subscribe to our Telegram channel to keep informed on the latest breaking news

Crypto investor James Fickel incurred a loss of $43 million on a long position in Ethereum after neglecting the chance to secure a $17.2 million profit just four days into the investment.

Fickel, the founder of the Amaranth Foundation and known as a crypto whale, made a wager in January that Ethereum would outperform Bitcoin, as reported by analytics firm Lookonchain.

The firm stated in a post on X dated September 14 that Fickel borrowed 3,061 Wrapped Bitcoin (WBTC) valued at $172 million from the Aave lending protocol and swapped it for 56,445 ETH at a rate of 0.05424 per coin, anticipating a rise in ETH price

Fickel’s Ethereum Trade Initially Flourished

While the trade began promisingly, it soon deteriorated, resulting in a significant loss for Fickel. After securing the loan to acquire Ether, the ETH/BTC pair plummeted by over 25%.

“He currently owes 2,196 $WBTC ($132 million) in debt from #Aave, with an approximate loss of 18,000 $ETH ($43.7 million) overall!,” Lookonchain reported.

James Fickel (@jamesfickel) lost approximately 18,000 $ETH ($43.7 million) by taking a long position on the BTC/ETH trading pair!

Between January 10 and July 1, he borrowed 3,061 $WBTC ($172 million) from #Aave and traded it for 56,445 $ETH at the rate of 0.05424.

Since August 7, he invested $12 million in $USDC to obtain 211 $WBTC and exchanged… pic.twitter.com/9DgLjisPgp

— Lookonchain (@lookonchain) September 14, 2024

Fickel is currently facing $132 million in debt due to this trade. In the last 11 hours, he has repaid over $30 million to Aave, lowering the outstanding loan to $102 million.

Despite initiating the trade on January 10 amid a price surge in Ethereum, Fickel has been in the red since March 13, per TradingView’s data.

This crypto millionaire missed out on realizing 10% gains on his ETH/BTC position two times within 74 days.

As of April, Fickel was ranked by Arkham Intelligence as the fifth wealthiest individual in the crypto space, boasting a total wallet value of $446 million.

Related Articles

Most Searched Crypto Launch – Pepe Unchained

Pepe UnchainedPepe Unchained
  • Layer 2 Meme Coin Ecosystem
  • Featured in Cointelegraph
  • SolidProof & Coinsult Audited
  • Staking Rewards – pepeunchained.com
  • $10+ Million Raised at ICO – Ends Soon

Pepe UnchainedPepe Unchained


Subscribe to our Telegram channel to keep informed on the latest breaking news

Contents
Fickel’s Ethereum Trade Initially FlourishedRelated Articles

You Might Also Like

US Government Loses $20M in Seized Assets After Suspected Hack

US Government Wallet Hacked: $20M in Cryptocurrency Stolen!

$259M Liquidated as Bitcoin Volatility Rocks Crypto Market

Creating an Ethereum Wallet for Safe Digital Asset Storage

Ethereum Hits 42-Month Low vs. Bitcoin: What’s Next?

Share This Article
Facebook Twitter Email Print
Previous Article Cilinix Crypto: Memebet Token’s GambleFi Meme Coin Review[embed]https://www.youtube.com/watch?v=_qJBo2ehlUI[/embed]
Next Article Crypto Supporters Rally in Wisconsin for America Loves Crypto Event
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

FacebookLike
TwitterFollow
YoutubeSubscribe
TelegramFollow
- Advertisement -
Ad image

Latest News

4 Cryptos to Challenge Solana: Potential Growth for Investors
Defi
Bitcoin ETF Inflows Exceed $3B, Demand Reaches 6-Month Peak
ETFs
Japan’s Push for Bitcoin and Ethereum ETFs Gains Momentum
Institutions
Ripple Appeals Court Ruling on XRP’s Institutional Sales
Meme
//

We influence millions of users and is the number one Crypto and Web3 news network on the planet

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
nl Dutchen Englishfr Frenchde Germanel Greekit Italianpt Portugueseru Russianes Spanish
en en
Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.
Welcome Back!

Sign in to your account

Lost your password?