Can it still hold up? The ETH death spiral has reached a critical point, and the giant "Lede Capital" is facing a liquidation crisis!
Yi Lihua's $1 billion ETH revolving loan position on Aave is facing a devastating blow. Yi Lihua's strategy: collateralize ETH on Aave → borrow USDT → buy more ETH. As ETH drops below $2,100, his net assets have shrunk by 70%. Yi Lihua has already begun large-scale selling of ETH on the secondary market to repay Aave debt, reducing his position from $1.1 billion to $1 billion.
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Can it still hold up? The ETH death spiral has reached a critical point, and the giant "Lede Capital" is facing a liquidation crisis!
Yi Lihua's $1 billion ETH revolving loan position on Aave is facing a devastating blow. Yi Lihua's strategy: collateralize ETH on Aave → borrow USDT → buy more ETH. As ETH drops below $2,100, his net assets have shrunk by 70%. Yi Lihua has already begun large-scale selling of ETH on the secondary market to repay Aave debt, reducing his position from $1.1 billion to $1 billion.