Collateral value approximately $350 million, Abraxas Capital-linked address continues to reduce ETH leverage

Odaily report: An address linked to Abraxas Capital (0xed0c...4312) has recently increased ETH collateral and reduced borrowing leverage. Last night, the address moved 20,000 ETH from Aave to Spark, then repaid approximately $55 million in USDS; today, it borrowed another $10 million in USDS, bringing the net reduction in borrowing to approximately $45 million. Over the past week, the address added a net 57,000 ETH in deposits on Spark, of which 50,000 ETH was migrated from Aave. During the same period, it borrowed a cumulative $93.38 million in USDS and repaid approximately $93 million in USDS, leaving the borrowing scale roughly flat, while the health factor rose from 1.59 to 2.42. As of press time, the address holds approximately 140,800 WETH in deposits on Spark, with collateral value of approximately $350 million, total debt of approximately $124 million, corresponding to a borrowing leverage of approximately 1.55x. Based on current collateral and debt calculations, liquidation could be triggered if ETH's price falls to approximately $1,028.