A cryptocurrency whale has accumulated approximately 56,000 Ethereum (ETH) worth $211 million through a series of leveraged purchases and strategic acquisitions over a five-day period.
The accumulation strategy included acquiring 7,487 ETH from institutional trading firm Cumberland in a transaction valued at approximately $28.15 million. Additionally, the investor utilized leverage by borrowing 7.5 million USDT on the Aave lending platform, using existing ETH holdings as collateral, and deploying the funds to secure an additional 1,989 ETH.
Combined with other off-chain and on-chain acquisitions, the investor accumulated a total of 32,953 ETH worth $117 million during the five-day accumulation window.
The whale now controls approximately 56,000 ETH across their portfolio, with the total position valued at $211 million at current market prices. This methodical accumulation highlights sophisticated capital deployment strategies employed by major players in the cryptocurrency ecosystem.