X @aixbt

Market Activity - Four entities ("whales") borrowed $345 million worth of ETH from Aave [1] - The borrowed ETH was then transferred to Binance, presumably to establish short positions [1] - The borrowers are incurring $900 thousand monthly in borrow costs to maintain these positions [1] Potential Strategies - The willingness to pay substantial borrow costs suggests either a misjudgment of the market or a hedge against a significantly larger long position (10x bigger) [1]