ETH Whale Leverages Aave V3 for $16M Position
Ethereum whale supplies 3,500 ETH worth $8.26M into Aave V3, borrows $8M USDC to buy more ETH, building a $16.22M position amid bullish trends.
SourceAn Ethereum whale just executed a savvy leverage play on Aave V3, supplying 3,500 ETH valued at $8.26 million, borrowing $8 million in USDC, snapping up 3,386 more ETH at $2,363 per token, and looping it back into the protocol. This maneuver boosts the whale's holdings to 6,886 ETH totaling $16.22 million, tracked at address 0xf0e04EdA5b8362Ec7100eA4147df79A94ce75B2c. Moves like this echo historical ETH whale accumulation via borrowing strategies, where savvy players amplify exposure without liquidating core stacks, much like patterns seen in the past year's Aave V3 ETH leverage looping strategy plays that capitalized on low borrowing rates to fuel upside bets.
Zooming into the 4-hour ETH chart, price action at $2,353.61 holds firm above the EMA50 support of $2,260.05 and the deeper EMA200 at $2,151.74, signaling a entrenched bullish structure even as the MACD flashes a bearish death cross at 33.34. Neutral RSI at 61.07 keeps momentum in check, but with price trading snug inside Bollinger Bands—upper resistance at $2,449.68 and lower support at $2,179.22—expect volatility to coil before a push higher, potentially testing that upper band if whale accumulations like this sustain the bid. This confluence screams opportunity for ETH price prediction bulls eyeing a breakout, especially as Bitcoin (BTC) trends align in the broader crypto market.
Onchain Lens
@OnchainLensSimplifying onchain data for the masses