Three Whale Addresses Borrow $220M USDT from Aave and Transfer to Binance
Whale activities intensify with leveraged AAVE purchases worth 14M USDC, expanding holdings to $62.59M amid ongoing high-value asset shifts between DeFi and centralized exchanges.
ETH
USDT
USDC
Summary
From Nov. 24, a crypto whale spent 14 million USDC to buy 80,900 AAVE at an average of $173, increasing total holdings to 333,000 AAVE valued at $62.59 million, with a liquidation price of $117.7. This follows prior whale movements of borrowing $220 million USDT from Aave to transfer to Binance, and a separate case where 5,000 ETH was borrowed and subsequently moved to Binance and Bybit, triggering an apparent ETH sell-off. These transactions illustrate ongoing large-scale trading strategies and liquidity shifts between DeFi protocols and centralized exchanges.
Terms & Concepts
- USDT (Tether): A stablecoin pegged to the U.S. dollar, commonly used for trading and lending in crypto markets.
- Aave: A decentralized finance (DeFi) lending protocol enabling users to borrow and lend cryptocurrencies without intermediaries.
- USDC (USD Coin): A stablecoin pegged to the U.S. dollar, issued by regulated financial institutions and backed by reserve assets.