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In the past hour, an address used leverage to buy 21,192 ETH for 48 million USDT.

In the past hour, an address used leverage to buy 21,192 ETH for 48 million USDT.

CointimeCointime2024/01/05 07:47
By:Cointime

Chain analyst Yu Jin monitored that in the past hour, a whale address spent 48 million USDT to buy 21,192 ETH on the chain, at an average price of $2,265. The whale used leverage to go long on ETH through a loop loan method: depositing 27,998 ETH (worth about $63.35 million) as collateral in Aave, and then borrowing a total of 60 million USDT from Aave through loop loans, using 48 million USDT to buy 21,192 ETH and continue to deposit it into Aave.

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