ETH Activity on Aave: Wallet Borrows $10M USDC to Buy 2,909 ETH and Deposits 83,816 ETH

According to Lookonchain monitoring, COINOTAG News notes that address 0x9992 recently borrowed 10 million USDC from the Aave lending protocol to acquire 2,909 Ethereum (ETH).

On-chain data shows that this address has since deposited 83,816 ETH into Aave, currently valued near $2.886 billion in collateral, and holds about $122.89 million in stablecoins borrowings.

These movements underscore the scale of Ethereum-backed liquidity and the evolving activity within DeFi lending, illustrating how large holders interact with leading platforms to manage cash and risk.