Whale Borrows $10M USDC for 4,170 ETH After Prior $86.8M Buy
A major Ethereum whale (0x7055) has again leveraged DeFi borrowing to increase its ETH holdings. Four hours ago, the whale borrowed $10 million USDC from Aave and used it to purchase 4,170 ETH at an average price of $2,400 per token. This follows a $86.79 million USDC acquisition on June 12, when the whale bought 31,458 ETH at around $2,759 each. The repeated strategy of borrowing USDC highlights the trader’s bullish outlook on ETH and willingness to use DeFi protocols to amplify buying power. Such large-scale whale moves can signal growing market confidence but may also increase short-term volatility in the ETH market as leveraged positions adjust to price swings.
Bullish
The whale’s repeated borrowing and accumulation of ETH via Aave demonstrates a strong bullish sentiment, as it leverages DeFi protocols to expand its position. In the short term, such leveraged purchases can heighten market volatility, but the sizable buy orders at successive price points indicate confidence in Ethereum’s upward trajectory. Over the long term, continued whale accumulation often underpins price support and can encourage broader market bullishness.