A whale in the cryptocurrency market reportedly used 11,200 ETH (approximately $18.36 million) to acquire 9,839 wstETH through the 0x362 address. Subsequently, the whale used the wstETH as collateral to borrow 10 million USDT, which was then used to purchase 6,081 stETH at an average price of $1,644. Notably, this same whale was previously involved in boosting the LINK token on July 20th and had also leveraged ETH through the 0x8b9 address five days ago.
This activity highlights the use of #leverage and various strategies by large investors in the crypto market to optimize their #positions and potentially #profit from price movements. It's #important to note that such #trading activities can be highly speculative and come with significant risks.
