“Whale 66” continues to increase its position $ETH by using leverage

About 11 hours ago, the wallet addresses related to “Whale 66” received an additional 46,379 ETH (approximately 137 million USD) from the Binance exchange.

Notably, this group is increasing its risk level by using financial leverage. Specifically, the previously purchased ETH is being used as collateral to borrow USDT, which is then put on the exchange to continue buying ETH. This process is repeated multiple times to scale the position.

Overall, “Whale 66” has purchased approximately 580,000 ETH, equivalent to 1.72 billion USD, at an average price of about 3,208 USD/ETH. To execute this strategy, they have borrowed a total of approximately 887 million USD through the AAVE platform.

This strategy reflects a high level of confidence in Ethereum, but it also carries significant risks if the price of ETH fluctuates sharply in the opposite direction.