According to on-chain monitoring shared by crypto analyst Ember (@EmberCN), a whale address borrowed 100 million USDT from the decentralized lending protocol Aave, one of the largest DeFi platforms, and subsequently purchased 59,742 ETH at an average price of $1,681. The aggressive accumulation brought the address's total ETH holdings to 133,800 ETH, worth approximately $212 million at current market prices.
However, the newly acquired ETH position is already underwater, showing a floating loss of around $6 million. On-chain data reveals the whale has two leveraged borrowing positions, with liquidation prices around $1,356 and $1,170. If ETH's price continues to fall and hits these thresholds, Aave's liquidation mechanism will automatically sell off the collateral to cover the debt, triggering forced selling of the pledged assets.