ETH Loans Fell From 42% to 4%: 'No One Is Short Any More'

Genesis Global Trading, one of the largest OTC cryptocurrency dealers, has loaned $553 million to institutional borrowers since March. They said that some of the largest loans were made in Ethereum (ETH) to hedge funds which are typically using the borrowed assets for short positions

At the end of Q1 ETH loans made up of 42% of outstanding balances, but theu fell to 4% as of the end of Q3 following an 80% decline in ETH prices.

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