TechFlow reports that on March 29, according to on-chain analyst AI Aunt (@ai_9684xtpa), the whale "redbase.eth," who had accumulated a loss of $1.069 million from ETH price fluctuations since March 9, leveraged a long position on 4,159 ETH worth $7.8 million seven hours ago.
The whale used 2.5 million DAI to purchase 1,322 ETH, then continuously抵押ed the purchased ETH to borrow stablecoins and reinvested them into long positions. It currently has 4,150 WETH抵押ed to borrow 5.35 million DAI, with a health factor of 1.14. The position will be subject to forced liquidation if ETH drops to $1,676.
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