PANews reported on October 21st that on-chain analyst Yu Jin reported that whales / institutions withdrew $ 700 million USDC from Binance a week ago. Last night, three addresses pledged a total of $ 610 million USDC on Aave , borrowed 66,000 ETH (approximately $ 262 million), and transferred the funds to Binance . Another address still holds $ 91.2 million in uncollateralized USDC . The three addresses pledged $ 190 million to borrow 20,000 ETH , $ 200 million to borrow 22,000 ETH , and $ 220 million to borrow 24,000 ETH . The amount of USDC held by the uncollateralized address is yet to be determined.
Whales/institutions are borrowing large amounts of ETH on Aave, suspected of unilateral short selling.
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