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A large institution borrowed $42 million in stablecoins to increase its holdings by 9001 ETH during the pullback.
According to on-chain data, a large investment institution continued to increase its holdings of Ethereum after a pullback in the market. The institution obtained over $42 million in stablecoin loans from a decentralized lending platform after the price fell, and then transferred these funds to a trading platform to purchase 9,001 ETH, valued at approximately $22.72 million.
This institution currently holds approximately 182,000 ETH, with an average purchase cost of around $2,250. Based on the current market price, its ETH holdings have an unrealized profit of about $32.6 million.
This operation indicates that, despite short-term market fluctuations, some large investors remain optimistic about the long-term development prospects of Ethereum and choose to increase their positions on dips. This continued buying behavior during market adjustments may provide certain support for the ETH price.
However, investors should also be aware that large holder operations do not completely predict market direction. The cryptocurrency market is highly risky, and investment decisions need to consider multiple factors comprehensively.