Data: A certain whale has borrowed approximately 45.49 million USD in BTC through circular lending to go long on the ETH/BTC exchange rate and has exchanged it for ETH
ChainCatcher news, according to on-chain data analyst Yu Jin's monitoring, a certain whale has been continuously leveraging the ETH/BTC exchange rate through the Aave platform since March 17, having borrowed a total of 1716 BTC (approximately 45.49 million USD) from Aave and sold it for ETH.
It is reported that the whale's strategy for going long on the ETH/BTC exchange rate involves collateralizing ETH on Aave, borrowing BTC, and then either providing liquidity with the BTC or directly selling it for ETH, which is then deposited back into Aave to continue borrowing BTC.
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