ETH has dropped to this state, and it turns out that recently many large funds have coincidentally been using @sparkdotfi for intermediary operations:

Wang Chuan is suspected of bottom-fishing ETH, having deposited 9,990 ETH into Spark;

7 Siblings borrowed 58 million U from Spark, continuing to buy over 30,000 ETH.

Especially 7 Siblings, which had been a super player in the Maker system during the previous cycle, almost triggered a liquidation risk of hundreds of millions of dollars due to the sharp drop in ETH.

These types of players know all too well where the most dangerous aspects of on-chain lending lie;

So as more and more whales start choosing Spark, it indicates that Spark is no longer just a normal financial pool for earning interest, but rather a financing platform on-chain that can support various demands:

1. Absorbing high-quality assets;

2. Creating credit based on collateral;

3. Reinjecting credit into the market, transforming into new buying power, liquidity, and position adjustment capabilities.

It has essentially become a relatively mature model of an on-chain commercial bank!

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