A certain whale has accumulated WBTC and ETH worth $230 millions in three weeks through a looping loan strategy.

According to Jinse Finance, analyst Yu Jin has monitored that a certain whale/institution has accumulated WBTC and ETH worth $230 million through a looped lending strategy over the past three weeks. This includes 1,356.8 WBTC valued at $149 million, with an average price of $117,556; and 18,454 ETH valued at $81.06 million, with an average price of $4,415. Due to leveraged borrowing through looped lending, this address also has loans totaling $114 million on Aave.