On July 8, a prominent crypto whale significantly expanded their exposure to WETH, following a previous long position of 2304.3 stETH. Recent activity reveals a strategic capital shift, with the investor withdrawing 3 million USDC from Lighter to acquire 1182 WETH. Subsequently, the whale leveraged Compound by depositing assets and borrowing 2 million USDT to further augment their holdings. This disciplined accumulation has resulted in a consolidated position of 1969.05 WETH, maintained at an average entry price of $2539. Such movements underscore sophisticated portfolio management and highlight the ongoing institutional interest in wrapped Ethereum assets within the decentralized finance ecosystem.
Timely, reliable coverage of breaking news, insights, and analyses on Bitcoin and cryptocurrencies since 2018.
Disclaimer: The information provided on COINOTAG NEWS is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
© COINOTAG News 2024