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A certain whale spent 48 million USD in the past hour on-chain to buy 21,192 ETH.

BlockBeats reported on January 5th that, according to on-chain analyst Yu Jin, in the past hour, a whale spent $48 million to buy 21,192 ETH at an average price of $2,265 on the chain. The whale leveraged long ETH through the loop lending method: deposited 27,998 ETH ($6,335) as collateral in Aave, and then borrowed a total of $60 million in stablecoins from Aave through the loop lending method. They spent $48 million in stablecoins to buy 21,192 ETH and continue to deposit it in Aave.
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