On-chain data reveals a whale used a recursive borrowing and lending strategy on Aave to build a massive position, accumulating nearly 1,357 WBTC and 18,454 ETH.
On-chain monitoring shows a whale or institution has accumulated approximately 1,357 WBTC (Wrapped Bitcoin) and 18,454 ETH, totaling around $230 million. This position was built over the past few weeks using a recursive borrowing and lending strategy on the Aave protocol, which has resulted in an outstanding debt of $114 million. This activity continues a trend for the address, which previously acquired large sums of crypto and utilized Aave for liquidity.