A giant whale was long Bitcoin on GMX, and after deducting borrowing costs, it has lost $1.07 million

Odaily Planet Daily News According to the monitoring of on-chain analyst Ember, a giant whale has been long BTC on the GMX platform (the entry price is 25,457 US dollars), and has already lost 1.07 million US dollars. The address used USD 5.35 million as collateral to do long BTC on January 22, with a position value of USD 10.89 million. The current price of BTC is $28,600, and the floating profit of long positions is $1.32 million. However, if the position is held for too long, the borrowing cost has reached $2.37 million; after deducting the borrowing cost, the current loss is $1.07 million (-20%).