Largest Depositor on Spark Platform Holds Significant ETH Position

Seven entities, referred to as '7 Siblings,' collectively possess 596,800 ETH valued at $1.765 billion on the Spark lending platform, establishing themselves as the largest depositors on the protocol. According to NS3.AI, these entities have borrowed 193 million stablecoins against their ETH holdings. During the market downturn last October to November, they acquired 49,287 ETH at an average price of $3,531, resulting in an unrealized loss of $27.7 million. Additionally, Trend Research maintains a position of 651,300 ETH valued at $1.92 billion, utilizing similar leverage strategies.