Trend Research conducted a similar ETH short operation back in November last year when ETH was around three thousand: by collateralizing USDC on Aave and then borrowing ETH to sell short. In November last year they shorted 66,000 ETH and should have profited $2448 million. After closing that short position, they then went long, eventually going long on 650,000 ETH. The ending is something everyone knows—they lost $734 million.

ETH3,29%
USDC-0,01%
AAVE5,72%
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