Ethereum Traders Incur $353K Loss in Panic Sell-Buyback Cycle
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Two cryptocurrency wallets recently executed a panic sell of 4,598 ETH for $10.95 million in DAI at a price of $2,383 per ETH. As Ethereum prices rebounded, the wallets repurchased 4,455 ETH for the same amount of $10.95 million, but at a higher price of $2,459 per ETH. This series of transactions resulted in a net loss of 142 ETH, equivalent to approximately $353,000.