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A seasoned trader who previously profited $14.26 million by buying low and selling high in WBTC has been continuously accumulating Ethereum since early 2026. Currently, their wallet holds 13,700 ETH with a total market value of $43.91 million.
The latest development worth noting — this whale wallet withdrew 1,000 ETH from Kraken 4 hours ago, transferring all of it into the Aave lending protocol as collateral. Interestingly, the average entry price for these ETH was only $3,205, which now results in a unrealized loss of $216,000 at the current price.
What signals does this operation reveal? On one hand, large holders staking ETH on Aave may be preparing for leveraged trading or hedging strategies; on the other hand, continuously withdrawing from exchanges into lending protocols reflects their long-term bullish outlook on Ethereum. Even in the face of short-term unrealized losses, they remain steadfast in increasing their holdings. Such whale behavior often serves as a market indicator.