ETH has dropped to this ridiculous level, but it turns out that recently, quite a few big players have been coincidentally using @sparkdotfi for intermediary operations: Wang Chun seems to be bottom-fishing ETH and deposited 9,990 ETH into Spark; 7 Siblings borrowed 58 million USDT on Spark and went on to buy over 30,000 ETH. Especially 7 Siblings—back in the last cycle, they were a mega whale in the Maker ecosystem and almost triggered a liquidation risk worth hundreds of millions of dollars due to ETH's crash. These kinds of players know exactly where the biggest risks in on-chain lending lie; So, when more and more whales start choosing Spark, it shows that Spark is no longer just a regular yield pool for parking funds—it’s becoming an on-chain financing platform that supports various needs: 1. Absorbing high-quality assets; 2. Creating credit based on collateral; 3. Reinjecting that credit into the market, turning it into new buying power, liquidity, and position adjustment capabilities. It’s actually shaping up to be a pretty mature model of an on-chain commercial bank!