Whale Leverages Aave to Acquire 603.5 WBTC, Adds 109.6 WBTC in Latest Purchase
On August 7, address 0xc9d...642 borrowed $20 million USDC from Aave and transferred the funds to Kraken. Using recursive loans for leverage, the whale purchased and withdrew 109.6 WBTC (≈$12.91 million). This maneuver brings its total WBTC holdings to 603.5 (≈$71.62 million) at an average cost of $90,382 per WBTC. The accumulation underscores strong bullish demand for tokenized Bitcoin in DeFi and may exert upward pressure on BTC prices.
Bullish
A large whale borrowing USDC on Aave to buy and withdraw significant WBTC indicates strong bullish sentiment in DeFi markets. Recursive leverage positions amplify demand, reducing available WBTC supply and potentially pushing Bitcoin prices higher. Historically, major whale accumulations precede upward price movements, suggesting both short-term rallies and longer-term bullish momentum for BTC.