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TechFlow reports, according to Lookonchain monitoring, an address starting with 0x1111 used circular lending on Aave—collateralizing ETH to borrow WBTC, then trading WBTC back into ETH to repeat the process—ultimately collateralizing a total of 44,956 ETH (worth approximately $73.5 million) and borrowing 2,088 WBTC (worth approximately $58.3 million).
An address starting with 0x1111 used circular lending on Aave: depositing ETH as collateral to borrow WBTC, then trading the WBTC for ETH to repeat the process. In total, it collateralized 44,956 ETH (worth approximately $73.5 million) and borrowed 2,088 WBTC (worth approximately $58.3 million).
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