According to Lookonchain, a significant whale has executed a strategic short on the ETH/BTC trading pair by withdrawing 3,644 $cbBTC ($304M) from Coinbase and depositing 3,034 $cbBTC ($253M) to Aave. Subsequently, the whale borrowed 79,638 $ETH ($152M) from Aave and deposited it back to Coinbase, indicating a bearish stance on ETH relative to BTC.

According to Lookonchain, a giant whale is shorting the ETH/BTC trading pair by withdrawing 2,770 $cbBTC ($243M) from Coinbase, depositing 2,219 $cbBTC ($194.6M) to Aave, and borrowing 45,441 $ETH ($99M).

According to @intotheblock, 1% of Bitcoin's supply is now locked in decentralized finance (DeFi) platforms. This trend is driven by a growing demand for Bitcoin yield and the introduction of Coinbase's new Bitcoin-pegged token, $cbBTC.

According to @intotheblock, the $cbBTC market on Aave has reached its supply cap within days of its launch, primarily due to significant deposits from a single whale. This whale is also the largest supplier of $cbETH on the Aave platform.