The Mystical Whale again bought $4,208 ETH ($6.87M) from #OKX using four wallets in the last 3 hours.
After that, I borrowed 4.85m $USDT from #aave and deposited it into #okx.
– lookonchain (@lookonchain) April 14, 2025
Attention to Ethereum as a secret whale has been making large deals throughout recent time. Over the past eight hours, this unverified entity has conducted strategic transactions on centralized and decentralized platforms to acquire key ETH holding positions.
Event timeline
The Whale acquired 15,953 Ethereum at an estimated market value of $26.16 million just eight hours ago. During this initial move, an ambitious strategy was launched.
Following the withdrawal of 15,953 ETH from OKX by six entity-controlled wallets five hours ago, the funds were sent to Aave as a Decentralized Financial (DEFI) lending platform. Through the Aave transaction, users deposited this ETH and borrowed 15.4 million USDT of stubcoin to maintain their US dollar parity. The whale borrowed USDT from OKX before returning to the same exchange to start a new trading.
Recently, the whale has run four wallet transactions to purchase 4,208 ETH, worth $6.87 million from OKX Crypto Exchange. Shortly after the acquisition, Whale conducted another deal with Aave by borrowing USD 4.85 million, which was sent directly to OKX as an Ethereum purchase.
Deciphering Ethereum Purchase Strategy
The whale begins a complicated leverage plan with his trading activities. Users who put ETH in Aave can generate USDT borrowed power without touching existing ETH. The USDT loan from OKX allows whales to purchase additional ETH on the platform. Based on this transaction, at $1,640 per ETH, it is clear that Whale believes Ethereum prices will rise further in the future.
The 15,953 ETH were deposited as collateral, which holds a value of $26.16 million, and received a USDT loan of 15.4 million. With borrowing USD 4.85 million, the total debt amounted to USD 20.25 million.
Why multiple wallets?
Using a variety of crypto wallets (first six times and four times) we provided the opportunity to protect against market volatility and hide our identity while managing risk better. Their main goal is to create ETH price bets through amplified investments.
Meaning and risk
Bullish whales’ trading behavior could lift ethereum market sentiment in a positive direction. The transaction exposes $200.25 million worth of stock to market volatility, exceeding the available collateral value of $2,616 million.
Analysis of whale activity helps general crypto investors better understand the overlapping power between decentralized finances and centralized exchanges affecting market movements.
