Whale Recovers by Adding 1341 ETH to Leveraged Position Amid $13M Accumulation on Ethereum

On-chain data reveals a significant move by a prominent Ethereum whale, who recently expanded their leveraged position by acquiring an additional 1,341 ETH, valued at approximately $3.52 million. This follows a prior loss incurred on May 16th from a leveraged long of 8,613 ETH. Over the last five days, the investor has strategically accumulated a total of 5,002 ETH, representing an estimated $13.05 million in on-chain purchases, with an average entry price near $2,580 per ETH. Notably, the entirety of these assets has been deposited into Aave, a decentralized finance protocol, serving as collateral to facilitate borrowing of USDT stablecoins. This maneuver underscores a sophisticated approach to liquidity management and risk mitigation within the DeFi ecosystem, highlighting the growing interplay between leveraged positions and decentralized lending platforms in the current crypto market landscape.