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.


