An unknown investor withdrew a position of 435 thousand ETH, which was about 80% of all long positions on the crypto exchange at that time
On the evening of November 11, a user of the Bitfinex crypto exchange withdrew a long position with a total volume of 435 thousand ETH ($ 2 billion at the exchange rate at that time). This amount accounted for 80% of all long positions on the trading floor. Despite the high volume, the deal did not affect the cryptocurrency rate, which remains at around $ 4.7k, according to CoinGecko.
Paolo Ardoino, CTO of Bitfinex, confirmed the information about a major withdrawal of the position. The withdrawal of a position means that it is not closed by selling the cryptocurrency, but is being bought out by the holder. He independently reimburses the creditor.
This is not the first time such a large position has been withdrawn. For example, in January of this year, the user withdrew 1.4 million ETH, which was estimated at that time at $ 1.8 billion. Then the price of the cryptocurrency decreased for a short time, after which it resumed its growth.