A whale spent 70 million USDT borrowed to buy back 22,713 ETH, suspected of adding back the leverage that had just been unloaded

PANews reported on July 5 that according to monitoring by on-chain analyst Yu Jin, the whale that had unloaded its leverage an hour ago transferred the remaining 33,765 ETH (US$103 million) to a new address (0xa33...12c), and deposited these ETH into Aave to borrow 80 million USDT.

Then use the borrowed USDT to buy back ETH: Currently, 70 million USDT has been spent to buy back 22,713 ETH, with an average price of US$3,082.

Yu Jin analyzed that this was equivalent to adding back the leverage he had just unloaded in the morning. It might be that the whale regretted selling it, so he bought it back again.