Data: A whale borrowed 34.75 million USDT from Aave 2 hours ago to buy nearly 20,000 ETH

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According to ChainCatcher, as monitored by analyst Yu Jin, a whale is again leveraging to long ETH through a circular loan method. About 2 hours ago, the whale borrowed 34.75 million USDT through Aave and purchased 19,972.8 ETH at an average price of $1,740.

It is worth noting that last month, due to the ETH price drop, this address sold 30,894 ETH at $1,790 to stop loss, incurring a loss of approximately $40 million. Currently, with the new leverage, the 50,000 ETH position faces liquidation risk at a liquidation price of $1,586.8. If ETH experiences another significant pullback, it may repeat the previous mistake.

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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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