According to the monitoring of on-chain analyst Yu Jin, in the past 2 hours, a whale who had previously been long ETH on the chain sold 26,600 ETH in exchange for 82.52 million USDT to unload leverage. This caused ETH to fall by $100 (US$3,160 → US$3,060). This whale was long ETH with 1/5 on-chain leverage, borrowed 48 million U to buy 21,192 ETH at a price of US$2,265, and held it for half a year. Until recently, the market took a sharp turn for the worse. The whale sold 26,600 ETH at an average price of US$3,102 2 hours ago in exchange for US$82.52 million USDT to repay the loan on Aave. Because the whale bought at a low enough price, he still realized a profit of US$22.26 million (+37%) from the current sale.
