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Whales are increasing their positions in ETH during the fall, and they are also using leverage.
An address just withdrew 24,000 ETH from a major exchange, while another whale is even more aggressive—borrowing through AAVE to accumulate 90,000 ETH at a price of $2,804.
The HYPE token is also taking action: 1M pieces were locked in the native market, and 200K each were locked by Ethena and Paxos for asset integration quotes.
The intensity of the protocol repurchase remains at $5M per day. The market is falling, but on-chain big players are clearly taking reverse actions.