Crypto whale borrows $34 million for bullish leverage trading
🚀 Dive into the world of DeFi leverage trading with this intriguing case: a crypto whale recently executed a complex strategy involving Ethereum (ETH) and stablecoins worth millions. Here's how it unfolded:
1. The whale withdrew 30,000 ETH ($101.7M) from Bitfinex.
2. Deposited 20,000 ETH ($67.8M) into the Spark protocol.
3. Borrowed $34M in DAI against their ETH collateral.
4. Swapped DAI for $USDC on 1inch DEX, depositing it into Binance.
This move signals a bullish stance, betting on ETH's rise. Leverage trading in DeFi lets users amplify gains by borrowing against collateral, but it's high-risk. Follow these strategies cautiously!
