According to CoinMeta, a suspected liquidity provider with the address 0x17c3 took on large short positions during the rise in crude oil prices, totaling approximately $41.983 million, resulting in a floating loss of about $2.211 million, which accounts for 90.7% of the total holdings of that account. Currently, this address is using a leverage of 3 to short about 245,100 lots of WTI crude oil and 243,400 lots of Brent crude oil. Recently, $10 million of USDC has been added to the account, bringing the total amount added to $25 million. The flow of funds coincides with the period of rising oil prices and the expansion of losses from these short positions.