Whale Acquires 8,454.3 ETH Through Recurring Loans

According to Odaily, a prominent Ethereum (ETH) whale has reportedly purchased a total of 8,454.3 ETH, worth approximately $26.34 million, through recurring loans in the past 18 hours. The average price of the purchased ETH was around $3,079. Previously, this whale had suffered a loss of $2.8 million due to leveraging ETH through recurring loans. Currently, the stablecoin he has lent out amounts to $17.5 million USDT, with a loan health rate of 1.24. This implies that if the price of ETH reaches around $2,364 without any additional collateral, his position would be liquidated. It's worth noting that the whale's strategy of using recurring loans to acquire ETH is a risky one, given the volatile nature of the cryptocurrency market. However, the whale seems to be undeterred by previous losses and continues to invest heavily in ETH.