ETH Whale Borrows $190M USDT, Withdraws 75K ETH
An ETH whale has ramped up its leveraged position by borrowing a total of $190 million USDT against 109,575.56 ETH collateral on Aave. The ETH whale withdrew 75,417.43 ETH (≈$267 million) from Binance in two tranches at average prices of $3,532 and $3,573 per ETH. This consolidated move signals strong bullish conviction and potential margin longs. Crypto traders should monitor funding rates, liquidity dynamics, and price action around the $3,600–$3,700 range. The average long price stands at $3,573. This whale activity may drive short-term volatility and influence funding rate fluctuations.
Bullish
The ETH whale’s large-scale borrowing and withdrawals indicate a strong bullish conviction that may drive upward price pressure in the short term. Consolidating $190 million USDT leverage and 75K ETH withdrawals suggests plans for margin long trades, which typically increase demand and can push ETH prices higher. This activity also affects liquidity dynamics and funding rates on major exchanges, potentially leading to higher volatility and elevated funding costs. Over the long term, such pronounced whale moves can reinforce bullish sentiment, attracting more traders to enter long positions and supporting sustained price appreciation.