After ETH broke 4000, everyone went crazy! A whale bought 1,390 WETH (about $5.56 million) at a price of 4,000.
He then deposited these WETH into the lending platform Aave, lent 52.83 WBTC, and exchanged WBTC for 1,539 WETH (approximately $6.17 million).
Through the above series of lending and re-lending operations, Lao Ge is equivalent to holding 2,930 WETH, with a leverage ratio of 2.1 times.
Through on-chain, the operation of 2x long leverage of ETH is realized.
As $ETH broke through $4,000, whale 0xaf6c just bought 1,390 $WETH($5.56M) at $4,000.
He then deposited this 1,390 $WETH into Aave, borrowed 52.83 $WBTC($6.17M) from #Aave, and swapped it for 1,539 $WETH($6.17M).
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