A mysterious crypto whale has caught the market’s attention by executing one of the boldest ETH accumulation strategies seen this year. Over the last two weeks, this whale has been making large moves across major platforms like Aave and Binance, and the results have paid off—to the tune of over $29 million in profit.
It began when the whale, holding $610 million in USDC, borrowed 66,000 ETH (valued at $265 million) from Aave, a major DeFi lending platform. At the time, ETH was trading around $4,020. Rather than holding or swapping it, the whale deposited the ETH into Binance, raising eyebrows across the crypto community.
Massive Binance Withdrawal at Lower Prices
Fast forward to the last 48 hours: the same wallet withdrew 174,166 ETH worth $621 million from Binance at an average price of $3,568. This significant movement came at a lower ETH price point than the original borrowing event, sparking speculation about the whale’s strategy.
But here’s the twist: after repaying the Aave loan, the whale still holds 108,105 ETH, currently valued at around $380 million. The net result? A realized and unrealized profit exceeding $29 million—a figure that could grow depending on Ethereum’s next price move.
A mysterious whale is aggressively accumulating $ETH!
— Lookonchain (@lookonchain) November 4, 2025
2 weeks ago, this mysterious whale with 610M $USDC borrowed 66,000 $ETH($265M) from #Aave and deposited it to #Binance at $4,020.
In the past 2 days, he withdrew 174,166 $ETH($621M) from #Binance at $3,568.
After repaying… https://t.co/V30HO2uOkH
What This Means for Ethereum and the Market
This aggressive accumulation signals strong bullish conviction on Ethereum’s long-term value. Large-scale whales like this often act on deep market insight or advanced trading models—and their behavior can influence wider sentiment.
Moreover, the use of DeFi tools like Aave for leveraged plays highlights how whales are blending on-chain strategies with centralized exchange activity for maximum impact. Traders and analysts are now watching closely to see if this accumulation signals a larger ETH breakout, or if more volatility lies ahead.