A cryptocurrency whale identified by wallet address 0xaf6c recently executed a high-impact arbitrage strategy on Aave involving substantial Ethereum and Bitcoin positions. The entity purchased 1,390 Wrapped Ethereum (WETH) at $4,000 per token before depositing it into the Aave lending protocol as collateral.
This capital enabled the whale to borrow 52.83 Wrapped Bitcoin (WBTC), which was subsequently swapped for 1,539 WETH. The complex maneuver demonstrates sophisticated leverage against the ETH/BTC exchange rate and resulted in measurable liquidity shifts across cryptocurrency pools.
The transaction contributed to increased total value locked (TVL) on Aave and highlights how large-scale whale activities can influence market dynamics. Such strategic moves historically leverage decentralized finance structures for arbitrage opportunities, potentially affecting trader behavior and liquidity conditions.