🔷 Popular crypto millionaire James Fickel, one of the earliest investors in Ethereum and the founder of the Amaranth Foundation, has lost more than $43 million on the market since the beginning of January 2024. This happened as his outstanding loan on the Aave platform surpassed $132 million.
🔷 The investor had expected that Ethereum would significantly strengthen its position against Bitcoin this year. However, Ethereum’s price has fallen by nearly 24% relative to Bitcoin since the start of 2024. Despite this, the investor is not rushing to exit the losing trade, continuing to believe in Ethereum’s long-term growth.
🔷 Meanwhile, spot Ethereum ETFs continue to experience significant outflows. Since their inception, they have lost over $581 million.