CoinVoice has recently learned that on October 9, according to Look on Chain data, the whale address starting with 0x111 is using Aave circular lending to buy ETH/BTC exchange rate pairs. The specific operations are as follows:
Deposit ETH into Aave, then borrow WBTC, then convert WBTC to ETH, deposit ETH into Aave again and borrow WBTC.
Currently, the address has accumulated 44,956 ETH (about 73.5 million US dollars) and borrowed 2,088 BTC (about 58.3 million US dollars). [Original link]
