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Trader 58bro.eth sells 8,000 ETH in an hour to repay loans, Ai Yi says

NewsFeeds update

On-chain analyst Ai Yi says trader 58bro.eth (@0x58bro) sold 8,000 ETH in the past hour after redeeming over $18m of ETH from Aave and depositing it in batches to OKX, withdrawing 10.5m USDT to repay loans. The account still has 4,911.05 WETH staked on Aave against 2.51m USDT borrowed, at a health score of 3.69.

EthereumPANewsAIBearish

Read the original on PANews

The story so far: 58bro.eth ETH selling and OKX deposits

Trader 58bro.eth previously deposited 3,000 ETH to OKX at a loss of about $570,000. The address has now sold 8,000 ETH in an hour after redeeming over $18m from Aave and depositing it to OKX, withdrawing 10.5m USDT to repay loans, with 4,911.05 WETH still staked on Aave.

  1. 58bro.eth deposits 3,000 ETH to OKX, Ai Yi says, down $570,000 in five days

    On-chain analyst Ai Yi says address 58bro.eth deposited 3,000 ETH, worth about $7.53m, to OKX an hour earlier. The tokens were withdrawn five days ago at $2,702.35 and deposited at $2,512.13, a 7% fall and a loss of about $570,000.

    EthereumPANewsAIBearish

  2. Trader 58bro.eth sells 8,000 ETH in an hour to repay loans, Ai Yi says

    On-chain analyst Ai Yi says trader 58bro.eth (@0x58bro) sold 8,000 ETH in the past hour after redeeming over $18m of ETH from Aave and depositing it in batches to OKX, withdrawing 10.5m USDT to repay loans. The account still has 4,911.05 WETH staked on Aave against 2.51m USDT borrowed, at a health score of 3.69.

    EthereumPANewsAIBearish

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Every Ethereum update on NewsFeeds

Every update is a short rewrite, by AI in our own words, of a flash from the outlet named on it, credited and linked. Updates are joined into one story by AI; our editors can change a story’s name or take an update out. Not investment advice.