🚨 Whale Bullish Used $ETH to Leverage!
Recently, a whale wallet address withdrew 2,400 ETH (~3.87 million USD) from the Kraken exchange to a personal wallet. Not stopping there, it deposited the entire amount of ETH as collateral on protocol #Spark .
🔥 Notably, this wallet address was created only 9 days ago, and this whale has used the ETH to borrow #USDS to optimize profits.
MoneyFlow:
1. Withdraw ETH from #Kraken .
2. Transfer to Spark as collateral.
3. Borrow USDS from Spark.
4. Use USDS to buy more ETH.
5. Deposit ETH into #Stake on Lido.
🤔 Is this whale extremely bullish on ETH by daring to execute such a series of risky actions? If ETH drops sharply out of control, the whale will face rapid losses.
🟢 Currently, the Health Rate on Spark is 2.21, still within a safe range