Whale Goes All-In on $ETH with $AAVE Loans 🐳🚨

A crypto whale is making a big bet on #Ethereum . 💦 They've just borrowed another $2.65 million in USDT to purchase 1,012 ETH, bringing their total ETH holdings acquired through Aave loans to a whopping 7,140 ETH worth around $19.2 million. 💥

Unfortunately, the recent #ETH price dip has put the whale at a small loss of $532K. Despite this temporary setback, 🤷👉 the whale seems confident in ETH's long-term prospects, as they've decided to supply their entire ETH holdings to Aave as collateral. 🌞😎

It's a risky strategy, as the whale is now heavily leveraged with loans in USDT, $WBTC , and DAI. While they currently maintain a healthy loan-to-value ratio of 1.42, a significant drop in ETH price could put them in a precarious position. 📉

This aggressive trading strategy is definitely one to watch! DYOR! #WhaleAlert #Aave #Altcoins

Source: SpotOnChain 🙏