An address associated with Bhutan's sovereign wealth fund is suspected of using Aave to leverage long Ethereum, valued at approximately $459 million.

Techub News reports, according to Emmett Gallic's monitoring, an address linked to Bhutan's sovereign wealth fund Druk Holdings appears to be conducting leveraged long positions on Ethereum via Aave. It withdrew 42,000 Ethereum and 54 million USDT from Binance, converted the USDT to Ethereum and deposited it into Aave, then borrowed 275 million USDT to purchase more Ethereum. Currently, this leveraged position holds 117,000 Ethereum, valued at approximately $459 million.