Correlation Between Price $ETH and USDC Balance on #AAVE 📉
The balance on AAVE has returned to the old resistance level and formed three peaks at the mark of 800 million #USDC . After a close inspection, it can be seen that each time the balance peaks, the amount of balance starts to decline, meaning that the "big players" are borrowing USDC to leverage, causing the market to drop just after 1-2 days (low latency).
This is really strange, as it has happened the same way both times before. This raises the question: "Are the bookmakers trying to 'kill #whale ' when many whales borrowing USDC for leverage have been liquidated for hundreds of millions of USD prior?"
Interestingly, when the USDC balance recovers and the whales repay their loans, the market starts to recover accordingly:))
And now, USDC balance has once again returned to the resistance peak just like the two times before. Will history repeat itself for the third time? 🤔
< Data provided by Dune-52Hz Database >
