New whales are all in with the strategy of accumulating more than 240 million dollars $ETH
The market has just witnessed the emergence of a new big player with a fierce strategy to accumulate ETH, using leverage to maximize profits.
🔷 This whale not only buys regular spots but also conducts a high-risk capital rotation process:
Step 1: Buy an additional 11,000 ETH worth 31.78 million USD from the Binance exchange.
Step 2: Deposit all of this ETH into the $AAVE V3 protocol as collateral.
Step 3: Use the ETH as collateral to borrow back 30 million USDC.
Step 4: Immediately transfer this USDC back to Binance to... buy more ETH!
🔶 After this continuous cycle of accumulation and borrowing, the total assets of this whale reached a staggering amount:
Total holdings: 72,000 ETH. Valued at 208.5 million USD.
The action of borrowing stablecoins to purchase additional collateral shows that this whale is making a huge bet on ETH rising sharply in the short term.
However, if the price of ETH drops, the risk of cascading liquidation on Aave will also be terrifying.
This article is for reference only and is not investment advice. Please read and consider carefully before making a decision.