Two Whales Knock on DeFi Giant's Door to Borrow for Ethereum Purchase! - Coin Bulletin

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While uncertainty continues in the cryptocurrency market, major investors borrowed a large amount of Tether (USDT) via the decentralized finance (DeFi) platform Aave to purchase Ethereum (ETH).

According to data shared by the on-chain analysis platform Lookonchain, two major whales made significant investments in Ethereum by borrowing a large amount through Aave.

The first investor address 0xc86c…3d12 borrowed 19.3 million USDT to purchase 8.397 ETH at the level of 2,300 dollars. The other investor address 0x6646…6de5 borrowed 7.08 million USDT to buy 3.074 ETH at the level of 2,304 dollars.

Ethereum's recent volatile trend makes these transactions even more important. Such large purchases made by whales borrowing money can increase market volatility and directly influence price movements.

In recent times, Ethereum quickly recovered despite falling below $2,000 and surpassed the $2,300 level. According to CoinGecko data, Ethereum is currently finding buyers at $2,297.

ETH-6.28%
DEFI-7.43%
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