A whale has initiated a loop to long ETH, leveraging to buy 8613 ETH and borrowing 10 million USDT in the process.
May 16: According to @ai_9684xtpa, a whale employed leverage to purchase 8613 ETH within the past hour. The total value amounts to $22.43 million, and the average purchase price is $2612.33.
Currently, they have used 8613 ETH as collateral to borrow 10 million USDT. The health factor is 1.86. A liquidation will be initiated if the price of ETH drops to $1399.
4 minutes ago
Berkshire Hathaway Liquidates Stake in Brazilian Digital Bank Nubank's Parent Company, Realizing Approximately $250 Million in Profit
On May 16th, as reported by Cointelegraph, a filing submitted to the U.S. Securities and Exchange Commission (SEC) on May 15th, 2025, disclosed that Berkshire Hathaway has completely sold off its holdings in the parent company of Nubank, Nu Holdings, thereby effectively ending its investment in the digital bank.
Berkshire Hathaway started to reduce its 40.2 million shares of Nubank stock in 2024. Approximately 20.7 million shares were sold in the third quarter at an average price of $13.46 per share. In the fourth quarter, another 46.3 million shares were sold at an average price of $13.22 per share. The final batch of 40.2 million shares was sold in the first quarter of 2025 at an average price of $11.83 per share.
These transactions ultimately led to Berkshire Hathaway realizing approximately $250 million in total gains from its initial investment.
4 minutes ago
A whale deposited over 200,000 LINK to Binance after 9 months of dormancy, realizing a $1.08 million unrealized gain
On May 16th, as monitored by Onchain Lens, during the past two days, a whale that had been inactive for 9 months deposited 200,355 LINK into Binance (valued at approximately $3.27 million), having an unrealized gain of $1.08 million.
Nine months ago, the whale amassed 345,786 LINK with $4.56 million, and its wallet still holds 145,430 LINK, which is worth around $2.37 million.
4 minutes ago
Analyst: Ethereum's recent rebound was driven by short covering, not solely by new demand
On May 16th, as per a CoinDesk report, Sui Chung, the CEO of the crypto index provider CF Benchmarks, stated in an interview: "The recent increase in the Ethereum price is primarily attributed to short covering—traders liquidating their bearish positions—rather than a robust bullish sentiment in the market."
During the process of short covering, short sellers will repurchase the futures contracts they had previously sold. This action will boost market demand in the short term, generating upward price pressure.
Chung pointed out that the premium (also known as the basis) of CME Bitcoin futures remains at a low level, suggesting that this rally is mainly driven by short covering.
Chung further added: "In a more typical market situation, if traders begin to use leverage to establish new long positions, we typically observe the basis level rising. This phenomenon reminds us that not all price increases are driven by new demand; sometimes they only reflect position adjustments and risk r
4 minutes ago
WLFI Rebuts US Senate Democrats' Investigation of USD1 and Trump's Relationship with Cryptocurrency
On May 16th, as per The Block, a lawyer representing World Liberty Financial (WLFI) has refuted a probe initiated by U.S. Senator and Democrat Richard Blumenthal. The lawyer contends that Blumenthal's investigation into the company's USD1 stablecoin and potential conflicts of interest related to former President Trump's cryptocurrency activities is "essentially flawed."
Blumenthal is the leading Democratic member of the Senate Permanent Subcommittee on Investigations. He recently dispatched letters to World Liberty Financial and Fight Fight Fight LLC (the entity behind the "Official Trump" meme coin), alleging that these companies may have violated federal law by potentially enabling ethical violations or engaging in transactions with indicted foreign individuals. He demanded detailed records encompassing ownership structures, financial relationships, and conflict of interest safeguards, claiming that Trump received financial advantages from WLFI and the TRUMP project.
According to t
4 minutes ago
Analyst: Bitcoin Lacks New Catalyst, Unable to Experience Significant Upside
On May 16th, David Morrison, an analyst at Trade Nation, stated in a report that the cryptocurrency industry appears to be seeking a new catalyst to prompt a substantial price increase. "As traders continuously evaluate a broader risk environment, the market sentiment remains cautiously optimistic." The price of Bitcoin has recently rebounded from its April low and is currently fluctuating within the range of $101,000 to $105,000. (IG)
4 minutes ago
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