Data: Bhutan's sovereign wealth fund sold over 25,000 Ethereum during the dip this morning to reduce leverage

According to on-chain data, an address associated with Bhutan's sovereign wealth fund Druk Holdings actively sold Ethereum (stETH) during the drop in Ethereum this morning (around 2:30 AM) to avoid leveraged liquidation. Timing-wise, this transaction coincided with Ethereum's brief low point of $2,243.

Statistics show that the address sold approximately 25,816 ETH in a short period while repaying a loan on Aave in the form of USDT. As of the time of writing, the health ratio of the address's Aave account is 1.1, and it currently holds 78,245.7949 stETH, with a remaining loan of 137.8 million USDT.