Bitcoin OG borrows $50M USDT, signaling potential ETH accumulation

A Bitcoin OG, identified by the address 1011short, deposited 55,340 ETH worth $157 million into the lending protocol Aave and borrowed 50 million USDT against the collateral, according to Lookonchain. The borrowed funds were subsequently transferred to Binance. Lookonchain noted that this activity suggests the long-term holder is preparing to accumulate more ETH.