Bhutan Sovereign Wealth Fund's Loan Health Ratio on Aave Falls Below 1.2

Odaily News Ethereum briefly fell below $2,800 this morning. The loan health ratio of the main wallet of Bhutan's sovereign wealth fund, Druk Holdings, on Aave temporarily dropped below 1.2 and is currently reported at 1.22.

From January 19th to 20th, addresses associated with the Bhutan sovereign wealth fund leveraged long positions on ETH. As of the time of writing, these addresses hold a total of 116,560 stETH, with a floating loss of approximately 10% from their purchase cost. This entire amount of stETH is currently held in Aave, with the main wallet holding 104,000 stETH and a loan of 200 million USDT.