A certain whale is leveraging ETH through loop lending on Spark
According to Lookonchain monitoring, a certain whale has withdrawn 39,900 ETH (worth about $99.5 million) from CEX since February 1st at an average price of $2,492 per ETH. This address then used the ETH as collateral to borrow 56.8 million DAI from Spark, which was deposited into various CEXs and continuously withdrawn as ETH.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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A whale has staked 24,000 ETH held for 5 months, currently with an unrealized profit of $15.2 million.
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