Wrapped Bitcoin

<ul class="news-points"> 
 <li><strong>Lookonchain revealed on X that a whale has been selling their WBTC to pay off debts.</strong></li> 
 <li><strong>This could be a factor that contributed to WBTC’s price falling by 0.11% in the past hour.</strong></li> 
 <li><strong>At press time, WBTC was resting on the key support level at $26,500.</strong></li> 
</ul> 
<p>The on-chain analysis platform Lookonchain shared in an X post earlier today that a whale holding positions in several tokens including <a href="https://coinedition.com/tag/wrapped-bitcoin-wbtc/">Wrapped Bitcoin (WBTC)</a>, Ethereum (ETH), Chainlink (LINK), Uniswap (UNI), and Maker (MKR) has started selling their WBTC.</p> 
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   <p lang="en" dir="ltr">A whale who is long <a href="https://twitter.com/search?q=%24WBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$WBTC</a>, <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$ETH</a>, <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$LINK</a>, <a href="https://twitter.com/search?q=%24UNI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$UNI</a>, and <a href="https://twitter.com/search?q=%24MKR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$MKR</a> on <a href="https://twitter.com/hashtag/Aave?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Aave</a> began selling <a href="https://twitter.com/search?q=%24WBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$WBTC</a> to repay the debt. <br><br>They deposited $11M assets on <a href="https://twitter.com/hashtag/Aave?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Aave</a> and borrowed $8.45M stablecoins. <br><br>The health rate is 1.08, which is near liquidation risk.<a href="https://t.co/ej8zjfJ3aS" target="_blank" rel="nofollow">https://t.co/ej8zjfJ3aS</a> <a href="https://t.co/En6O2F53KN" target="_blank" rel="nofollow">pic.twitter.com/En6O2F53KN</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1712677906768683495?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">October 13, 2023</a>
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<p>Lookonchain believes this is likely an attempt from the whale to address their outstanding debt. The whale already deposited assets worth $11 million onto Aave and subsequently borrowed stablecoins amounting to approximately $8.45 million. The health rate of the whale’s position is 1.08, indicating that they are extremely close to the liqui…</p>
<p>The post <a rel="nofollow" href="https://coinedition.com/wbtc-whale-dumping-tokens-to-pay-debts-and-avoid-liquidation/">WBTC Whale Dumping Tokens To Pay Debts and Avoid Liquidation</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

WBTC Whale Dumping Tokens To Pay Debts and Avoid Liquidation

Coin Edition

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