According to PANews, James Fickel, the founder of Amaranth Foundation, has reportedly invested 10 million USDC to purchase 3042.8 ETH at an average price of $3,286. This transaction occurred 40 minutes prior to the report. In addition to this, Fickel borrowed 20 WBTC from Aave, a decentralized finance protocol. It is anticipated that he will continue to sell the borrowed WBTC in exchange for ETH, thereby increasing his holdings in ETH/BTC.
Since the beginning of this year, Fickel has borrowed a total of 2,301 WBTC, equivalent to $145M, from Aave and then sold it to acquire 41,944 ETH. The cost of the ETH/BTC exchange rate was approximately 0.055. Since yesterday, the ETH/BTC exchange rate has rebounded from 0.049 to 0.052. This suggests that Fickel's strategy may be to leverage the fluctuating exchange rate to increase his ETH holdings.