TechFlow reports on November 28 that, according to on-chain analyst EJ, the ZKasino team borrowed 9.36 million DAI five hours ago to purchase 2,603 ETH.
By depositing users' 10,535 ETH into Aave as collateral, they have cumulatively borrowed 53.77 million DAI to acquire 15,645 ETH, leveraged long on ETH. The average purchase price of these leveraged ETH positions is $3,437.
With the recent surge in ETH price, ZKasino's leveraged long positions—funded using users' ETH as collateral—are now sitting on an unrealized profit of $3.22 million.
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