Mysterious Whale Accumulated $33M Worth Of ETH In A Few Hours
The post Mysterious Whale Accumulated $33M Worth Of ETH In A Few Hours appeared on BitcoinEthereumNews.com.
Attention on Ethereum as a secret whale has been conducting large-scale transactions throughout recent hours. In the last eight hours, this unverified entity conducted strategic trades on centralized and decentralized platforms to get an important ETH holdings position. The Timeline of Events The whale acquired 15,953 Ethereum at an estimated market value of $26.16 million exactly eight hours ago. An ambitious strategy was launched during this initial move. Following a withdrawal of 15,953 ETH from OKX by six entity-controlled wallets five hours ago the funds were sent to Aave as a decentralized finance (DeFi) lending platform. Through their Aave transaction, the users deposited this ETH for borrowing 15.4 million USDT stablecoins which keep value at U.S. dollar parity. The whale transferred borrowed USDT from OKX before placing it back in the same exchange to start new transactions. In recent hours, the whale executed four wallet transactions to purchase 4,208 ETH worth $6.87 million from the OKX crypto exchange. Immediately after the acquisition the whale conducted another transaction with Aave by borrowing 4.85 million USDT that was sent directly to OKX as the Ethereum purchase money. Decoding the Ethereum Buying Strategy The whale initiates an intricate leverage plan with his trading activities. Users who put ETH into Aave can generate USDT borrowing power without touching their existing ETH. The USDT loan from OKX enables the whale to buy additional ETH on the platform. Based on this deal at $1,640 per ETH, it is apparent that the whale believes Ethereum prices will rise further into the future. The 15,953 ETH deposited as collateral which held a worth of $26.16 million yielded a 15.4 million USDT loan. A total debt amount of 20.25 million USDT resulted from borrowing 4.85 million USDT. Why Multiple Wallets? Using different crypto wallets (six at first then four…
Filed under: News - @ April 14, 2025 9:25 pm