Bhutan's sovereign wealth fund sold over 25,000 ETH to reduce leverage during the morning's price dip.

On February 1, according to on-chain information, an address associated with Bhutan's sovereign wealth fund Druk Holdings actively sold Ethereum (stETH) during the Ethereum price drop early this morning (around 2:30 AM) to avoid leveraged liquidation. The timing of the transaction coincided with Ethereum's short-term low of $2,243. According to statistics, the address sold about 25,816 ETH within a short period and repaid loans on Aave in the form of USDT.

As of the time of writing, the Aave account health factor of this address is 1.10, currently holding 78,245.7949 stETH, with outstanding loans of 137.8 million USDT.