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Dormant whale’s leveraged Aave ETH position hit by about 31,915 ETH liquidation

Dormant whale’s leveraged Aave ETH position hit by about 31,915 ETH liquidation

Analyst Ai Yi flags roughly $537 million of ETH liquidation risk across three major whale positions, with Hyperliquid longs now in focus alongside the already-hit Aave trade.

ETH
USDT
AAVE

Fact Check

The claim's specific figures (20,000 ETH collateral, $34M USDT borrowed, 20,201 ETH bought at $1,683, ~$98M ETH position) match exactly the Onchain Lens X post (status 2062823701801034129), which is the originating on-chain analytics source. PANews independently relays the same numbers, and the Arkham address page corroborates the wallet's recent ETH inflows.

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Summary

Liquidation pressure around large leveraged Ether bets remained centered on three whale positions carrying roughly 345,000 ETH, or about $537 million, in combined risk, as analyst Ai Yi highlighted two major Hyperliquid-linked longs alongside the dormant Aave whale already suffering forced unwinds. The dormant whale’s Aave-based ETH long had already seen cumulative liquidations of 31,915.13 ETH after a latest 10,117 ETH liquidation, following earlier overnight liquidations totaling 21,798.13 ETH across two linked addresses. The latest update also described a whale that had been looping long ETH since February and had posted 152,195 ETH as collateral on Hyperliquid with health at 1.16, while a Bit-linked entity held 120,000 ETH longs with an unrealized loss of $84.48 million and liquidation prices of $1,241 to $1,272. Earlier reports said the dormant whale used repeated USDT borrowing and looping on Aave to build a large leveraged ETH position and kept buying into the decline even after partial liquidations.

Terms & Concepts
  • Aave V3: A version of the Aave decentralized lending protocol that lets users post crypto collateral and borrow other assets against it.
  • looping strategy: A leverage technique in which a trader repeatedly borrows against collateral and uses the borrowed funds to buy more of the same asset.
  • liquidation: The forced unwinding of a leveraged or collateral-backed position when asset values no longer meet required safety thresholds.