Whale 0x3E38 Makes Massive Move with 475 WBTC Purchase and 10x Leveraged BTC Long on Hyperliquid
Main Idea
Whale wallet 0x3E38 made a significant transaction involving the purchase of 475 WBTC and leveraged a long position on Bitcoin using DeFi platforms, highlighting the trend of large investors using DeFi for amplified exposure to Bitcoin.
Key Points
1. Whale wallet 0x3E38 acquired 475 WBTC, valued at approximately US$56 million, at an average cost of US$115,733 per WBTC.
2. The whale leveraged a long position on Bitcoin using borrowed funds from the decentralized lending protocol Aave.
3. The same entity established a 434.6 BTC long position on the Hyperliquid exchange with 10x leverage, amounting to roughly US$51.6 million.
4. These transactions reflect the growing trend of large-scale investors using DeFi platforms to amplify exposure to Bitcoin.
Description
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