Ethereum ICO whale borrows 10 million USDe to buy 5,817 ETH

Analyst Yujin reported that a large Ethereum ICO whale borrowed 10 million USDe from Aave about two hours ago and used the funds to purchase 5,817 ETH at an average price of $1,719 per ETH. The wallet currently has roughly 147,000 ETH (about $253 million) posted as collateral on Aave and Spark, backing $276 million in stablecoin borrowing. The estimated liquidation price is $1,432.