The post Whale Manipulation: ETH Shorting Surge as 2,770 cbBTC Withdrawn for High-Stakes Borrowing appeared on BitcoinEthereumNews.com.

On March 5th, COINOTAG reported significant activity in the cryptocurrency market as a notable whale strategically **shorted** the **ETH/BTC** exchange rate, according to monitoring from **LookIntoChain**. In a critical move, this whale executed a withdrawal of **2770 cbBTC**, valued at **US$243 million**, from **Coinbase**. Following this, the whale deposited **2219 cbBTC**, equivalent to **US$194.6 million**, into **Aave**, a leading decentralized finance protocol. This capital was leveraged to obtain a staggering **45,441 ETH**, totaling around **US$99 million**. This transaction highlights the increasing sophistication of market players who are utilizing **DeFi platforms** to amplify their strategic positions in the **cryptocurrency** landscape. Such maneuvers not only underscore market volatility but also the evolving nature of asset management within the crypto space, attracting the attention of both retail and institutional investors. Source: https://en.coinotag.com/breakingnews/whale-manipulation-eth-shorting-surge-as-2770-cbbtc-withdrawn-for-high-stakes-borrowing/

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Filed under: News - @ March 5, 2025 4:16 am