- Buy Crypto
- Markets
Futures- Spot
- Copy Trade
- Earn
- More
Analysis: The 620,000 ETH batch unstaking event may be related to the large-scale withdrawal of ETH deposits on the Aave platform, which caused the borrowing interest rate to soar
Odaily News According to the analysis of crypto blogger darkpool cited by Ai Yi, an on-chain data analyst, the batch unstaking of 620,000 ETH may be related to the large-scale withdrawal of ETH deposits from the Aave platform, which caused the borrowing interest rate to soar. In a short period of time, the large-scale withdrawal of Aave ETH deposits caused the borrowing interest rate to soar. The revolving loan players went from profiting from the interest rate spread to losses, and were forced to redeem stETH to deleverage, which led to the current situation. The APR of Aave ETH borrowing once soared to 10%, and the current exit waiting period of Lido stETH has been extended to 21 days (normally within a week). The on-chain stETH exchange for ETH is still at a discount of nearly 0.4%.
Regarding the implementation of revolving loans, Aaves collateral rate for ETH is 93%, which means that arbitrage players can even use up to 14 times leverage to obtain interest rate spreads. Under normal circumstances, the annualized rate of return on the principal can reach 7%.
According to previous news, the amount of ETH to be staked and withdrawn reached 620,000, and the net redemption amount was approximately 271,000.
You may also like
$70 trillion wealth transfer, the financial gateway is being rewritten | Interview with Robinhood CEO Vlad Tenev
Whale Opens 20x Oil Short on Hyperliquid With 5.6M USDC at Risk
Key Takeaways A significant leveraged short position on crude oil has been initiated on Hyperliquid using 5.6 million…
Bitcoin: The Ultimate Hedge Against Chaos
Key Takeaways Michael Saylor, co-founder of Strategy, firmly believes Bitcoin is the ultimate hedge against macroeconomic chaos. Strategy…
“Set 10 Major Targets First,” Whale Reopens Long Positions in Bitcoin
Key Takeaways A prominent cryptocurrency whale known as @Jason60704294 has reopened a long position in Bitcoin. The whale…
Analysis: Despite Bitcoin’s Price Dip, Bullish Trends Persist
Key Takeaways Despite Bitcoin’s decline below $71,000, its bullish momentum remains strong, with significant buying activity from ETFs…
DeFi Protocol Neutrl Faces Potential Security Breach
Key Takeaways The DeFi protocol Neutrl has reported a suspected attack on its front-end interface, urging users to…
OpenClaw Developers Targeted by Sophisticated GitHub Phishing Campaign
Key Takeaways OpenClaw developers are being targeted by a phishing campaign using fake GitHub accounts. Attackers claim to…
User Loses $85,000 in sNUSD to Phishing Scam
Key Takeaways A user lost approximately $85,000 in sNUSD due to a phishing attack. The attack involved a…
Bitcoin Tumbles Below $71,000 Amid Global Market Volatility
Key Takeaways Bitcoin (BTC) recently experienced a sharp drop, falling below the $71,000 mark, a significant decline influenced…
Ethereum: A Closer Look at Recent Price Movements
Key Takeaways Ethereum’s price has recently fallen below $2200, showing a daily increase of 0.55%. Ethereum (ETH) operates…
Pudgy Penguins’ Game Sparks Security Warning Amid Growing Phishing Scams
Key Takeaways A phishing campaign is targeting the Pudgy Penguins’ newly-launched game, Pudgy World, to steal cryptocurrency wallet…
The Cryptocurrency Market Downturn: An In-Depth Look
Key Takeaways The cryptocurrency market is experiencing a downturn driven by geopolitical tensions and surging oil prices. Bitcoin…
Ethereum Whale Activity: Major Accumulation Detected
Key Takeaways A significant whale activity has been detected, involving the purchase of 10,811.34 ETH over two weeks.…
Cryptocurrency Market Update: Major Developments and Insights
Key Takeaways Sky co-founder Rune Christensen has leveraged strategic moves to short the S&P 500 and invest in…
Whale Trading Strategies: Insights into Massive Crypto Moves
Key Takeaways A notable whale, @Jason60704294, made a profit of $7.093 million by closing a short position during…
BlackRock’s Significant Crypto Withdrawal from Coinbase
Key Takeaways In a surprising move, BlackRock has withdrawn 2,267 BTC and 5,041 ETH from Coinbase in the…
Ancient Whale’s Bitcoin Sale Spurs Market Movements
Key Takeaways An ancient cryptocurrency whale offloaded 1,000 BTC, valued at approximately $71.57 million, causing significant ripples in…
SEC Clarifies How Federal Securities Laws Apply to Crypto Assets
Key Takeaways: The SEC and CFTC jointly released a comprehensive guidance classifying crypto assets into five distinct categories.…
$70 trillion wealth transfer, the financial gateway is being rewritten | Interview with Robinhood CEO Vlad Tenev
Whale Opens 20x Oil Short on Hyperliquid With 5.6M USDC at Risk
Key Takeaways A significant leveraged short position on crude oil has been initiated on Hyperliquid using 5.6 million…
Bitcoin: The Ultimate Hedge Against Chaos
Key Takeaways Michael Saylor, co-founder of Strategy, firmly believes Bitcoin is the ultimate hedge against macroeconomic chaos. Strategy…
“Set 10 Major Targets First,” Whale Reopens Long Positions in Bitcoin
Key Takeaways A prominent cryptocurrency whale known as @Jason60704294 has reopened a long position in Bitcoin. The whale…
Analysis: Despite Bitcoin’s Price Dip, Bullish Trends Persist
Key Takeaways Despite Bitcoin’s decline below $71,000, its bullish momentum remains strong, with significant buying activity from ETFs…
DeFi Protocol Neutrl Faces Potential Security Breach
Key Takeaways The DeFi protocol Neutrl has reported a suspected attack on its front-end interface, urging users to…
App