A whale withdrew 1,444 cbBTC from Coinbase in the past two weeks, deposited it into Aave, borrowed 29,025 ETH, and then deposited it into Binance
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Odaily reported that according to on-chain analyst Yujin, although the ETH/BTC exchange rate has dropped to 0.028, whales are still betting on a further decline in the ETH/BTC exchange rate: a whale has cumulatively withdrawn 1,444 cbBTC (USD 138.14 million) from Coinbase over the past two weeks, then deposited them as collateral on Aave to borrow 29,025 ETH (USD 77.6 million) and transferred them back to Coinbase.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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