Whale addresses are playing recursive lending again: borrowing millions of U to buy the dip in AAVE, with total holdings exceeding $69 million

2025-12-12 02:54:19

Abstract generation in progress

【Chain News】An interesting on-chain move has arrived—the massive whale address starting with 0xE9D0 has made another move. This time, it’s a classic operation: borrowing 1 million USDT and directly sweeping into 5211 AAVE tokens.

Looking at his overall position on the Aave protocol, he currently holds more than 338,000 AAVE(, which is roughly $69 million) at the current price, but at the same time owes $30.8 million USDC. A typical recursive lending play—using holdings as collateral to borrow USDT, then using the borrowed USDT to buy more tokens and increase collateral, looping to amplify exposure.

This strategy works very well in a bull market, but if leverage is pushed too high, the risk of liquidation arises once the market reverses. Judging by the scale of this position, it’s clear he has strong confidence in AAVE’s future.

AAVE3.2%

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DancingCandles

· 7h ago

Playing a bit aggressively, with the leverage maxed out, it's truly a gamble that AAVE won't drop.

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LowCapGemHunter

· 12-12 03:11

This guy really dares to play, recursively borrowing to the max... The bull market is great, but I'm really worried that his leverage might explode someday.

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SundayDegen

· 12-12 02:58

Are you really not afraid of using such high leverage? A black swan could cause a liquidation at any moment.

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PanicSeller