Bullish ETH/BTC trader James Fickel has made over 8 million dollars in unrealized gains

PANews reported on May 27th that chain analyst Yu Jin tweeted that ETH/BTC bull James Fickel, who had been trapped for several months, finally made a breakthrough: his long position in the ETH/BTC exchange rate has now yielded a floating profit of $8.06M (4%).

From early January this year to date, James Fickel has borrowed a total of 2,981 WBTC (worth about $204M) from Aave and sold it to buy 55,015 ETH to go long on the ETH/BTC exchange rate at a cost of 0.0541. The current ETH/BTC exchange rate has risen back to 0.0563 and his investment is now yielding a floating profit of $8.06M (4%).