A certain whale has once again leveraged up to go long on ETH, with the liquidation price nearing $1586.

According to Odaily, a certain whale has leveraged up again to go long on ETH through circular lending. Two hours ago, they borrowed 34.75 million USDT via Aave and purchased 19,972.8 ETH at an average price of $1740.

It's worth noting that last month, this address sold 30,894 ETH at $1790 to stop losses due to an ETH drop, resulting in an approximate loss of $40 million. The new leveraged position of 50,000 ETH now faces liquidation risk at a price of $1586.8. If ETH experiences another significant pullback, they may repeat the same mistake.