According to on-chain analyst Ember Monitoring, an address that lent ETH via Aave as collateral for BTC in December and then transferred it to Coinbase to bearish the ETH/BTC rate was marked by Nansen as belonging to Multicoin Capital.
The address again loaned 6,200 ETH (approximately $20.52 million) from Aave and transferred it to Coinbase 9 hours ago. The current lending status of this address in Aave is as follows:
- Mortgage 2,648.4 WBTC (approximately US$174 million) to borrow 35,892.6 ETH (approximately US$117 million);
-All ETH will be transferred to Coinbase immediately after being lent;
- Lending health rate 1.15 (liquidation will occur if the ETH/BTC rate rises to around 0.0575).