Longling Capital's 10,000 ETH sent to Binance appears sold as linked address withdraws 21.94 million USDT

EmberCN said the related address now holds 95,845 ETH as collateral on Aave, worth about $149 million, against 91.33 million USDT borrowed with an ETH liquidation price near $1,148.

ETH
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AAVE

Summary

Longling Capital's earlier transfer of 10,000 ETH to Binance appears to have been sold, while a related address withdrew 21.94 million USDT from the exchange, according to on-chain analyst EmberCN. The linked address now has 95,845 ETH posted as collateral on Aave, valued at about $149 million, and has borrowed 91.33 million USDT against that position. EmberCN said the setup carries an ETH liquidation price near $1,148, indicating the level at which the collateral could face forced unwinding if Ether were to fall sharply.

Terms & Concepts
  • Aave: A crypto lending protocol that lets users post digital assets as collateral to borrow other tokens.
  • liquidation price: The price threshold at which a leveraged or collateralized position can be forcibly closed to cover debt.
  • collateral: Assets pledged to secure a loan and protect the lender if the borrower cannot repay.