@zorrynzorka
🟥 Sometimes being a believer in the crypto world can be incredibly painful.
Twitter user James Fickel, over the span of six months, found himself down by 18,000 ETH (approximately $43.7M) while attempting to long the ETH/BTC trading pair.
From January 10th to July 1st, he borrowed 3,061 WBTC (worth around $172M) and swapped it for 56,445 ETH at an exchange rate of 0.05424 ETH per BTC.
By August 7th, he spent $12M USDC to purchase 211 WBTC and exchanged 16,000 ETH for 671 WBTC at a rate of 0.042 ETH/BTC, in an effort to pay off his debt on AAVE.
His total debt on AAVE amounts to 2,196 WBTC (roughly $132M), leaving him with a staggering loss of $43.7M overall. 🥶 🥶
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