Ethereum whale buys 40,975 ETH, bringing total to $1.69B, with $881.5M borrowed from Aave, signaling leveraged accumulation strategy.
An Ethereum whale, known as #66kETHBorrow, has bought an additional 40,975 ETH in the past five hours. This purchase adds to a growing position that now totals 569,247 ETH, valued at approximately $1.69 billion.
The whale has used a significant portion of borrowed funds from Aave, totaling $881.5 million, to accumulate this massive amount of Ethereum.
Leveraged Accumulation and Borrowed Funds
The whale has been using funds borrowed from Aave to finance its ETH purchases. Since November, $881.5 million of the funds used to acquire Ethereum have come from this decentralized lending platform.
As of December 24, 2025, the whale’s purchases have been financed by approximately 52% loaned funds.
The #66kETHBorrow Whale — who previously bought 528,272 $ETH($1.57B) — bought another 40,975 $ETH ($121M) in the past 5 hours.
Since Nov 4, this whale has bought a total of 569,247 $ETH($1.69B), of which $881.5M of the funds used to buy $ETH were borrowed from Aave.… pic.twitter.com/4lt6hOKBwZ
— Lookonchain (@lookonchain) December 24, 2025
While this accumulation strategy reflects a strong belief in Ethereum’s future, it also carries risks. If Ethereum’s price falls below certain thresholds, the borrowed positions could be liquidated.
Aave’s platform sets a health factor for each loan, and if it drops below one, the collateral may be at risk. Given the volatile nature of cryptocurrency, this introduces the possibility of significant losses if the market moves unfavorably.
Institutional Confidence in Ethereum’s Future
The whale’s continued accumulation signals strong institutional confidence in Ethereum. Despite market volatility, this large-scale buying suggests a belief in Ethereum’s future value.
The whale’s purchases align with expectations of upcoming network upgrades, such as the Dencun hard fork, which aims to improve scalability and lower transaction costs.
Ethereum’s price action and on-chain metrics also support this confidence. The network has seen increasing hash rates and growing trading volumes, both of which indicate rising demand.
These signals suggest that institutional investors are positioning themselves for potential gains in Ethereum as the network evolves.
Related Reading: Crypto Whale Expands BTC, ETH, and SOL Shorts to $243M Total
Broader Market Sentiment and Risk Factors
The #66kETHBorrow Whale’s aggressive accumulation is consistent with broader positive sentiment in the Ethereum ecosystem.
On-chain metrics show an increase in ETH inflows to whale wallets, and the total value locked in decentralized finance (DeFi) platforms like Aave has risen steadily.
However, this type of leveraged accumulation does present risks. If Ethereum’s price drops below $2,800, forced liquidations could add selling pressure to the market.
Despite these risks, the whale’s large-scale buying activity is seen as a sign of institutional-grade belief in Ethereum’s future. Additionally, Ethereum’s correlation with other tech-driven markets, such as Web3 and NFTs, could continue to drive its value in the long term.
The whale’s purchases and the associated borrowing show how institutional investors may continue to play a central role in Ethereum’s price movements.
For traders, monitoring on-chain data and key levels will be crucial to understanding the potential risks and rewards in the Ethereum market.