BitcoinOG whale plays big, Even when facing Heavy Losses still uses the Looping trick to amplify positions!

Not only is it stuck with a colossal loss from a Long position worth 779 Million USD, the legendary whale nicknamed #BitcoinOG 1011short has been found executing a high-risk leverage strategy called Looping to average down the price.

🔷 On-chain data records that this whale just created a new wallet and performed a series of complex maneuvers:

Step 1: Withdraw 61,000 ETH worth approximately 174.3 Million USD from Binance to a personal wallet.

Step 2: Deposit all of this ETH into the Lending protocol $AAVE as collateral.

Step 3: Use the ETH as collateral to borrow back 60 Million USDC.

Step 4: Immediately send this 60 Million USDC back to Binance.

🔶 The action of sending USDC back to the exchange indicates that this whale is likely to use the borrowed funds to buy more ETH, and then use the newly bought ETH as collateral for further borrowing.

This is a Leverage Loop aimed at maximizing the buying position without needing additional new capital.

🔷 The act of piling on orders while the old position of 779 Million USD is submerged in red shows an all-or-nothing mentality.

If the price of ETH continues to decrease, the cascading liquidation effect on AAVE combined with the Long position on the exchange could cause this whale to burn through their account faster than ever, creating terrifying selling pressure on the market.

This article is for informational purposes only and should not be considered investment advice. Please read and carefully consider before making any decisions.