An address linked to Abraxas Capital has been adding ETH collateral while reducing leverage, according to Arkham monitoring cited by BlockBeats on Oct. 9. The address moved 20,000 ETH from Aave to Spark on the previous evening, then repaid about 55 million USDS. It borrowed another 10 million USDS today, leaving a net reduction of roughly $45 million.
Over the past week, the address posted a net increase of 57,000 ETH in deposits on Spark, including 50,000 ETH transferred from Aave. During the same period, it borrowed a cumulative 93.38 million USDS and repaid about 93 million USDS, keeping the overall debt level largely unchanged while improving its health factor from 1.59 to 2.42.
As of publication, the address held about 140,800 WETH on Spark, with collateral valued at around $350 million and total debt of about $124 million. That implies borrowing leverage of roughly 1.55x. Based on current collateral and debt levels, liquidation could be triggered if ETH falls to about $1,028.
A wallet linked to Abraxas Capital has been increasing its ETH collateral and dialing down borrowing leverage, according to Arkham data cited by BlockBeats on Oct. 9.
On the previous evening, the address moved 20,000 ETH from Aave to Spark and then repaid about 55 million USDS. It borrowed another 10 million USDS today, for a net reduction of roughly $45 million.
Over the past week, the address recorded a net increase of 57,000 ETH in deposits on Spark, including 50,000 ETH transferred from Aave. In the same period, it borrowed a cumulative 93.38 million USDS and repaid about 93 million USDS. The borrowing balance was broadly unchanged, while the health factor improved from 1.59 to 2.42.
As of publication, the address held about 140,800 WETH in deposits on Spark, with collateral worth around $350 million and total debt of about $124 million, implying leverage of roughly 1.55x. Based on the current collateral and debt position, liquidation may be triggered if ETH falls to about $1,028.
The address is 0xed0c6079229e2d407672a117c22b62064f4a4312.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
