Today, a whale on the chain withdrew 2,426 ETH from the Binance exchange and deposited it into the lending protocol Compound as collateral. They then borrowed 5 million USDT and deposited it back into Binance, indicating their intention to continue adding to their position.
According to data analyst Yu Yin, this whale has been engaging in leveraged trading since February 9th, when they initially withdrew 4,369 ETH from Binance and deposited it into Compound.
Currently, the net asset value of this address in Compound is approximately 13.12 million US dollars. Based on their initial investment cost of 10.92 million US dollars (4,369 ETH multiplied by the market price of ETH at that time), this leveraged whale is currently enjoying a floating profit of approximately 7.2 million US dollars.
(Reprinted with permission from GT Radar)
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