Address 0x709…Cad6e used pledged ETH and borrowed 30 million USDS to accumulate 14,730.36 wstETH at an average $2,028, according to on-chain analyst Ai Yi.
Ethereum address 0x709…Cad6e reopened a leveraged position after six months, signaling a return to borrowing against crypto collateral to add exposure to liquid staking tokens. On June 8, on-chain analyst Ai Yi said the wallet had pledged 10,570 ETH about 14 hours earlier to borrow 16 million USDS, used the funds to buy 14,730.36 wstETH at an average price of $2,028, and then borrowed another 14 million USDS to increase the position. The trade indicates the address is using collateralized borrowing to build a larger wstETH holding, a strategy commonly used to gain leveraged exposure while keeping underlying assets on-chain.