- A Whale wallet address borrowed money to buy ETH
16 hours ago, they borrowed another 17.8M $USDC from Aave.
The asset used as collateral for the above loan is $WETH, along with using the loop: Collateral $WETH -> borrow $USDC & $WBTC to buy more $WETH -> use the newly purchased $WETH to continue as collateral.
- Up to now, they have borrowed a total of 20M $USDC & 11M $WBTC and all of them are used to buy $WETH, bringing the total collateralized $WETH volume to 22K $WETH ($51M).
- The health rate of the above loan is quite risky at 1.33, it seems that this Whale is placing a lot of faith in the upcoming price increase of $ETH.
