On-chain analyst Ember reported that a whale that built a leveraged Ether position through recursive borrowing has now started closing the trade at a profit. According to the data cited by Odaily, the whale borrowed 30 million USDS from Spark on June 7 by posting ETH as collateral in a looping structure, then used the funds to buy 18,212 ETH at an average price of $1,647.
Today, the same whale sold 15,993 ETH at $1,889 and repaid 30.2 million USDS in debt. Ember said the leveraged portion of the trade generated a profit of $4.3 million. The transaction highlights how large holders continue to use on-chain lending protocols such as Spark to build and later unwind leveraged positions directly on-chain, with the profit figure tied specifically to the leveraged segment identified in the monitoring data.
Odaily reported, citing on-chain analyst Ember, that a whale has unwound a leveraged Ether trade after closing part of the position in profit.
According to Ember’s monitoring, the whale used recursive borrowing with ETH as collateral on June 7, borrowed 30 million USDS from Spark, and bought 18,212 ETH at an average price of $1,647.
Today, the whale sold 15,993 ETH at $1,889 and repaid 30.2 million USDS in loans. Ember said the leveraged portion of the trade produced a $4.3 million profit.
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