A Whale Accumulates 2,304.3 stETH Worth Approximately $5.78 Million Through Recursive Lending

BlockBeats News, July 6 — According to on-chain analyst Ai Yi (@ai_9684xtpa), monitoring shows that in the past two hours, a certain whale has accumulated 2,304.3 stETH, worth $5.78 million, at an average cost of $2,510, by “buying stETH, depositing it into Compound as collateral to borrow USDC, and continuing to buy more.”

Currently, this whale has collateralized 3,503.23 stETH and 10 WBTC to borrow 7.03 million USDC, with a health factor of 1.22.