A cautious whale at 0xae4f35 recently shifted strategies, converting his entire 1,241 RETH holdings into 3.754 million USDE and staking it all to receive sUSDE. This move comes after a history of timely decisions: two years ago, just before FTX’s collapse, he withdrew 1,285 ETH (then valued at around $1.3K per ETH) and gradually converted it into RETH up until July 2023.

Just few hours ago, he decided to sell all his RETH, executing a series of conversions—RETH to ETH, then ETH to USDC, and finally USDC to USDE—before staking his USDE for sUSDE, which currently offers a 13% APY. This strategy appears aimed at mitigating risk, especially after ETH's 8% price rise this week.

Address: 0xae4f35d0b1f14c108c002df28243b6093765ed80