EmberCN data shows the '7 Siblings' whale deposited nearly 600,000 ETH into Spark, using stablecoin loans to expand holdings now down $27.7 million in paper losses.
According to EmberCN, the whale group known as '7 Siblings' deposited 596,800 ETH worth about $1.76 billion into Spark across eight addresses, becoming its largest depositor. They borrowed $193 million in stablecoins during October and November to purchase 49,287 ETH at an average price of $3,531. This position is currently showing an unrealized loss of approximately $27.7 million.