MemeBTC
Are we eyeing recursive borrowing again? On December 12th, an interesting on-chain transaction appeared — a certain whale address 0xE9D0 rebooted its old routine.
This time, it was a big move: exchanging 1 million USDC for 5211 AAVE tokens, a classic leveraged play. Looking into this address's holdings, wow, the stash has already stacked up to 338,000 AAVE, but the cost is carrying a debt of 30.8 million USDC.
Recursive borrowing is indeed attractive in a bull market, but with the debt scale there, it all depends on whether AAVE can support it going forward. Is anyone jumping on the bandwagon?
View OriginalThis time, it was a big move: exchanging 1 million USDC for 5211 AAVE tokens, a classic leveraged play. Looking into this address's holdings, wow, the stash has already stacked up to 338,000 AAVE, but the cost is carrying a debt of 30.8 million USDC.
Recursive borrowing is indeed attractive in a bull market, but with the debt scale there, it all depends on whether AAVE can support it going forward. Is anyone jumping on the bandwagon?