Two Crypto Whales Are Waiting for a Drop in This Altcoin Price

Two cryptocurrency whales are expecting a decline in the price of the leading altcoin Ethereum (ETH).

According to Lookonchain data, two whales borrowed 8,400 Ethereum ($25 million) from the decentralized trading platform Aave this morning.

Whales later deposited them to the Binance exchange. The Lookonchain team wrote that they may have taken a short position from Ethereum.

Aave is widely used by investors who open long and short positions. Investors who want to take a short position borrow Ethereum by depositing stablecoins such as USDC into the platform, and since their debts are in ETH, they make a profit if the price of ETH decreases.

Shares are for informational purposes only and are not investment advice.

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