The recent price drop has triggered significant whale activity as they move to manage their debt positions.
In the past six hours, a whale deposited 22,746 ETH (worth $77.7M) to Binance and subsequently withdrew stablecoins to repay debts on Spark and Aave. Over the last two days, this whale has deposited a total of 31,968 ETH (valued at $122.3M) to Binance.
Wallet Address: 0xc0979af67786f30dea9335665592d6813b21b819
This highlights the increasing pressure on whales to liquidate assets during volatile market conditions to secure their leveraged positions.
