🔥Secret operations of crypto whales exposed: Gambling between ETH and BTC!
Attention, friends! It appears that a giant whale is trying to manipulate the crypto market for profit. Want to know its strategy? This is no small business, it is borrowing huge amounts to go long between ETH and BTC! 🤯
🕵️♂️The steps taken by this mysterious whale are: first deposit his ETH into Aave, then lend out WBTC and transfer it to Binance, and finally withdraw ETH from Binance and continue depositing it into Aave. It seems complicated, but this guy has deposited a total of 29,031 ETH (worth $55.2 million) to Aave and lent 1,100 WBTC (worth $29.87 million) since 5/26.
🎲After pledging ETH on 6/2, this whale borrowed BTC and transferred it to Binance, intending to go long on the ETH/BTC exchange rate. However, things did not go as planned: it has withdrawn (bought back) 1,100 BTC from Binance in batches between 6/29 and 7/5 to repay the loan.
😅It seems that this gamble was not successful. On 6/2, the ETH/BTC exchange rate was 0.07, but now it is only 0.063. It is estimated that this whale lost about 4 million US dollars in this ETH/BTC exchange rate investment.
Hey, friends, although the crypto world is full of infinite possibilities, remember that risks are also everywhere. It seems that even if you are a whale, there is no guarantee that you will always make money in this volatile market. 😅💔