According to Odaily Planet Daily, Onchain Lens monitoring reveals that a whale address that had been dormant for 3 years has re-emerged and utilized Aave V3 for a recursive lending strategy to aggressively accumulate ETH. The whale originally held 38,554 ETH worth around $64.28 million before making its move.
The specific operation involved supplying 20,000 ETH (approximately $33.28 million) to Aave V3, borrowing 30 million USDT, and then purchasing 17,826 ETH at an average price of $1,683 per coin. As a result, the address now holds a total of 56,380 ETH, currently valued at $94.04 million. This recursive lending maneuver allowed the whale to leverage its existing holdings without selling any ETH, demonstrating the flexibility of DeFi protocols in large-scale asset management.
Onchain data also suggests that the whale may continue purchasing ETH. The re-emergence of such a large holder after years of inactivity underscores the sustained confidence among long-term investors, even amid broader market fluctuations.