A whale on the chain has withdrawn 2,426 ETH from the Binance exchange today and deposited it into the lending protocol Compound as collateral. It has then borrowed 5 million USDT and deposited it into the Binance exchange, indicating its intention to continue increasing its position.
According to information shared by blockchain data analyst Yu Yan, the whale had initially withdrawn 4,369 ETH from Binance as collateral and deposited it into Compound starting from February 9. Since then, it has been continuously leveraging its position.
As of now, the net asset value of this address in Compound is approximately 13.12 million US dollars. Calculated based on its initial investment cost of 10.92 million US dollars (4,369 ETH × ETH market price at that time), the leveraged whale is currently enjoying a floating profit of approximately 7.2 million US dollars.
(This article is authorized and reproduced from GT Radar)
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