PANews reported on May 21 that according to on-chain analyst Yu Jin’s monitoring, as the US SEC requires exchanges to speed up the update of the 19B-4 document on ETH spot ETFs, the probability of ETH spot ETFs being approved has greatly increased. The price of ETH rose by 18% in 5 hours. During this period, multiple on-chain whales purchased ETH (most of them used leverage):
1. ETH/BTC exchange rate dead bull: James Fickel, founder of Amaranth Foundation, continued to borrow 350 WBTC (US$25 million) from Aave and sold them for 43,784 ETH. James Fickel has been long on the ETH/BTC exchange rate since early January this year, and has borrowed 2,741 WBTC (US$191 million) from Aave and sold them for 50,688 ETH. His ETH/BTC exchange rate cost is 0.054;
2. 3 hours ago, the whale who had made a profit of $20.8 million on ETH and LINK investment borrowed 10 million USDC from Aave and bought 2836.5 stETH at a price of $3,525. This whale also spent 20 million USDC to buy 313.24 WBTC at an average price of $63,848 a week ago (5/14).
3. 4 hours ago, 0x67c whale deposited 6,400 ETH into Aave as collateral to borrow 15 million USDC and then purchased 4,344 ETH at a price of $3,453.
