SNEAK PEEK
- Lookonchain unveils bold moves by a smart whale.
- The whale exchanged 7,169 $ETH tokens for an equivalent amount of 7,169 ETH.
- The smart whale’s saga serves as a testament to the boundless opportunities that exist in the crypto industry.
In an extraordinary move, a shrewd whale, backed by his remarkable intelligence, exchanged a substantial amount of 7,169 ETH tokens for an equivalent amount of 7,169 ETH, according to Lookonchain, a whale tracking platform. Capitalizing on the benefits of the decentralized finance (DeFi) ecosystem, the whale swiftly deposited the acquired ETH tokens into the renowned lending protocol Aave.
1/ A smart whale who made ~$2.5M during #USDC depegging is long $ETH on #Aave.
Today, this whale:
– Exchanged a total of 7,169 $ETH for 7,169 $stETH.
– Deposited 7,169 $stETH into #Aave.
– Borrowed 8.45M $USDT.
– Deposited 8.45M $USDT to #Binance (possibly buying $ETH). pic.twitter.com/6T700Jm6Om
— Lookonchain (@lookonchain) May 24, 2023
Hungry for more gains, the smart whale borrowed a staggering $8.45 million, further amplifying his potential returns. Intriguingly, this sizable sum was promptly deposited into the ever-active crypto exchange giant Binance, possibly hinting at a strategic move to accumulate additional ETH.
In a separate but equally noteworthy development, the same savvy whale unleashed another stroke of brilliance. This time, he deposited 28,755 ETH tokens, valuing them at a remarkable $52 million, into the secure vaults of Aave. Taking full advantage of the lending platform’s offerings, the whale borrowed a whopping $36 million, evidently leveraging his trust in Ethereum.
Lookonchain states that while the whale’s financial acumen is undeniable, he must tread cautiously to safeguard his wealth. With a health rate of 1.2, a price decrease of 20% in ETH, roughly equating to $1,511, would trigger liquidation. The whale recognizes the importance of monitoring market movements to protect his substantial investments.
As the crypto market continues to captivate the world, this smart whale’s saga serves as a testament to the boundless opportunities that exist for those with the wit to seize them. His remarkable success amidst the USDC depegging event and bold bets on ETH through Aave and Binance paint a captivating picture of a crypto journey filled with intrigue and potentially monumental gains.
