According to Odaily Planet Daily, on-chain analyst EmberCN reports that a whale/institution that borrowed 66,000 ETH to short sell on October 20 and profited approximately $24.48 million has recently appeared to have shifted to a long position.

Data shows that the address transferred approximately $482 million USDC to Binance from last night to this morning, and subsequently withdrew approximately 144,000 ETH from the exchange, with an estimated average purchase price of approximately $3,341.

Yu Jin pointed out that this USDC was the source of funds he used for collateralized borrowing on Aave last month.