A whale borrows 50 million USDT to accumulate 20,000 ETH

According to monitoring by EmberCN, after the price of ETH dropped below $2,000, a whale borrowed 50 million USDT from Spark to increase holdings by 20,000 ETH (worth $40.2 million). This whale previously invested $500 million to bottom fish BTC and ETH at the beginning of February, and after liquidating 4,000 cbBTC last month, replenished their ETH position again. Currently, the whale holds 144,000 ETH (worth $290 million), with a cost basis of approximately $2,367 and an unrealized loss of $50.5 million.