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Whale Withdraws 60K $ETH ($203M) from CEX, Lends to Spark, Borrows $119M Stablecoins, $ETH Up 3% in 17 Hours

Whale Withdraws 60K $ETH ($203M) from CEX, Lends to Spark, Borrows $119M Stablecoins, $ETH Up 3% in 17 Hours

Bitget2024/07/01 02:22

A massive whale (probably Abraxas Capital) has withdrawn 60K $ETH ($203M) from CEX at ~$3,387 in the past 17 hours. The whale then lent $ETH to #Spark to borrow $119M in stablecoins and deposited it to cex. The $ ETH price is up by 3% (17H), suggesting a $6.27M unrealized profit.

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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