In the last 2 hours, a whale buying ETH on-chain with leverage sold 26,600 ETH and exchanged it for 82.52 million USDT to eliminate leverage. As a result, ETH fell by 100 USD ($3,160→3,060).

This whale used 1/5th of the on-chain leverage to buy ETH. He borrowed U48 million to buy 21,192 ETH at a price of $2,265 and held it for half a year.

Until recently, when the market got worse, whales sold 26,600 ETH at an average price of 3,102 USD 2 hours ago and exchanged for 82.52 million USDT to repay the loan on Aave.

Because the price the whale bought was low enough, he still received a profit of $22.26 million (+37%) on the current sale.

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