Crypto Whale and Justin Sun Looking for Arbitrage Opportunity: Those Altcoins!

Issued by Circle USDC With the stablecoin losing the 1 dollar stable, there have been some developments. The notorious whale named CZSamSun continues to buy USDC for arbitrage purposes, according to Lookonchain. doing.

Crisis Grows: $40 Billion Altcoins Are Out of Hand!

CZSamSun With his bold move, he borrowed USDT for stETH and ETH from Aave and Instadapp. The whale, which received 28,577,700 USDT, sold these assets for 29,961,238 USDC. losing its constant stablecoin If it is revived, it will be possible to make an average of 1.3 million dollars profit.

In addition to these transactions, CZSamSun borrowed 80 million USDC from Aave and converted it into DAI. If USDC dips to zero and DAI returns to steady, this will provide substantial profits for the whale.

CZSamSun and Justin Sun Are Pretty Brave

Justin Sun also pulled 82 million USDC from Aave just 1 hour ago and exchanged it for 82 million DAI, indicating a potential trend in DeFi trading.

Some DeFi traders have not had the same level of success as CZSamSun and Justin Sun. As reported by Koinfinans.com, a trader allegedly exchanged 2 million USDC tokens for USDT and received only 0.05 USDT in return.

Koinfinans.com As we reported, Trader transactions were detected and front-run by MEV (Maximal Extractable Value) bots on the Ethereum network, resulting in a loss of approximately $1.45 in gas fees.

This event highlights the risks associated with DeFi trading, especially when it comes to MEV. MEV is the profit that can be made by reordering transactions in a block and is a growing concern in the DeFi space. Despite these risks, DeFi trading remains popular with crypto investors, and whales like CZSamSun continue to make bold moves in the market.

All in all, it will be interesting to see how the DeFi market evolves and whether more investors follow in the footsteps of CZSamSun and Justin Sun. However, it is very important to remember the risks associated with this type of trading and be careful when navigating the volatile DeFi realm.

You can follow the current price action here.


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