A whale who uses a loop loan to go long on ETH has been quite active recently. A couple of days ago, he started reducing his position again, selling 5,000 ETH in just the past hour and exchanging it for 14.6 million USDC.

Speaking of this guy's operations, they are quite particular. Eleven days ago, he gradually sold 35,605 ETH, totaling $103.7 million, with an average price of $2,914 per ETH. Just this round of trading earned him a profit of $13.14 million, with a pretty good return.

But his story isn't over yet. He still holds 15,000 ETH, which is worth about $43.88 million at current prices. This position makes him a notable player in the market, and his next moves are worth watching. It seems he's gradually cashing out profits but isn't planning to completely exit the market.