TechFlow reports, according to Etherscan monitoring, that a whale/institution sold 10,414 ETH last night.
The entity transferred 10,414 ETH into Binance via three addresses and then withdrew $36.32M in stablecoins. This sale of ETH was conducted to reduce leverage: the three addresses had collateralized 68,300 ETH ($228M) on Aave and Compound to borrow $141M in stablecoins. The stablecoins obtained from this ETH sale were used to repay loans and reduce leveraged positions.




