A whale who was long ETH through revolving loans once again withdrew 2,426 ETH from Binance and deposited it into Compound, and then lent 5 million U

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Cointime2024/02/27 08:18

By:Cointime

According to on-chain analyst Yu Jin, on February 27th, a whale bought 11,719 ETH ($37.73 million) through a loop borrowing method since February 9th. The whale withdrew 4,369 ETH as initial collateral from Binance on February 9th and then accumulated $24.6 million to buy ETH through the loop borrowing method from Compound. The cost of the whale's ETH is $2,600, and it currently has a floating profit of $7.27 million (+24%). One hour ago, the whale continued to withdraw 2,426 ETH from Binance, deposited it into Compound, borrowed $5 million USDT, and transferred it to Binance to continue the loop borrowing method to go long on 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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