Bhutan's Sovereign Wealth Fund Sells Over 25,000 Ether During Morning Dip to Deleverage

BlockBeats News, February 1st, on-chain information shows that an address associated with Bhutan's sovereign wealth fund Druk Holdings actively sold Ethereum (stETH) this morning during the Ethereum flash crash (around 2:30 AM) to avoid liquidation. This transaction is timestamped around the same time as the Ethereum short-term low point at $2243. It is estimated that the address sold approximately 25,816 ETH in a short period of time, while simultaneously repaying a loan on Aave in USDT.

As of the time of writing, the health factor of the address's Aave account is 1.10, holding 78,245.7949 stETH and still owing 137.8 million USDT in loans.