Whale nemorino.eth closed a position of 8,000 ETH to repay debt and exit leverage, earning $7.58 million in half a year from looping long ETH.

According to ChainCatcher, on-chain analyst Yujin reported that the whale address nemorino.eth sold 8,000 ETH at an average price of $3,609 after ETH dropped, cashing out $28.87 million, and immediately repaid an Aave loan of $24.83 million, thereby eliminating all leverage risk.

This round of operations started in May with an initial principal of 7.7 million USDC. During the period, a total of 10,914 ETH were accumulated at an average price of $2,946. Ultimately, the half-year leveraged long strategy achieved a profit of $7.58 million, with a return rate of 98%.