PANews, February 26: According to Onchain Lens, a whale address "0x2bd" exchanged approximately 240.44 BTC (around $15.7 million) for 8,152 ETH via ThorChain yesterday at a rate of approximately 0.02945 BTC/ETH. Today, the address deposited the ETH into Aave, borrowed 36 million USDT in a cyclic manner, and then purchased 17,283 ETH at $2,083 each. The address now holds a total of approximately 25,434.5 ETH (around $52.45 million).
Whale converts BTC to ETH via ThorChain and leverages Aave to add over 25,000 ETH
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Summary
A whale with address '0x2bd' transferred 240.44 BTC ($15.7M) to ETH via ThorChain at a rate of 0.02945 BTC/ETH, acquiring 8,152 ETH. The position was then leveraged on Aave to borrow 36M USDT, which was used to purchase 17,283 ETH at $2,083, increasing total holdings to 25,434.5 ETH ($52.45M). The trade appears to target a favorable risk-to-reward ratio amid key support and resistance levels.
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