Svmuu News According to on-chain analyst Yu Jian's monitoring, a whale/institution swapped its deposit certificate (aEthWETH) directly for ETH early this morning in order to retrieve 17,400 ETH deposited on Aave, resulting in a loss of 310 ETH ($720,000). This represents a discount of 1.8%. The retrieved ETH was then transferred and deposited into Spark.
Note: As Aave currently still has WETH withdrawals paused, the current ways to exit ETH from Aave are to swap it for other assets for withdrawal (e.g., wstETH) or to swap the deposit certificate (aEthWETH) for ETH, but this incurs a slight discount.
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A whale/institution lost $720,000 to retrieve 17,400 ETH from Aave
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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