Amaranth Foundation Whales Stake 6905 ETH on Lido
CryptoNewsTerminal Staff21 May, 2024
Amaranth Foundation Whales Stake 6905 ETH on Lido
Data analytics firm The Data Nerd reported, "Founder of Amaranth Foundation, a whale known for betting on $ETH/$BTC rise, James Fickel, borrowed 350 $WBTC ($24.6 million) from Aave 8 hours ago, swapped it for 6905 $ETH, and staked it all on Lido. In the past 5 months, he has borrowed ~2741 $BTC ($150 million) and swapped it for ~51200 $ETH." Amaranth Foundation is a crypto hedge fund that has been actively involved in the cryptocurrency market since 2017. The foundation is known for its large holdings of Ethereum (ETH) and Bitcoin (BTC). James Fickel, the founder of Amaranth Foundation, is a well-known figure in the cryptocurrency community and is often cited as an expert on the market. This recent move by Amaranth Foundation is a bullish signal for the Ethereum market. It shows that large investors are still confident in the long-term prospects of Ethereum and are willing to bet big on its future success.
