Metalpha Moves 18,000 ETH Collateral to Spark and Reinvests $48M Back into Binance

Metalpha, a prominent cryptocurrency asset management firm, has recently executed a significant on-chain maneuver. According to data from Onchain Lens, the firm deposited 18,000 ETH as collateral into the Spark protocol, subsequently borrowing 12 million USDS and 8 million DAI. These stablecoins were then converted into 20 million USDC and redeployed into Binance, showcasing a strategic liquidity management approach. This complex transaction highlights the firm’s active engagement in leveraging decentralized finance (DeFi) platforms to optimize asset utilization.

In a related development, Metalpha withdrew approximately 18,000 ETH from Binance earlier today, with the asset valued at around 48.45 million USD. This withdrawal underscores a potential shift in the firm’s asset allocation strategy, reflecting dynamic portfolio management amid evolving market conditions. Such movements are critical indicators for investors tracking institutional activity within the crypto ecosystem.

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