๐ ๐๐๐ต๐ฒ๐ฟ๐ฒ๐๐บ ๐ช๐ต๐ฎ๐น๐ฒ ๐ ๐ฎ๐ธ๐ฒ๐ ๐ฆ๐๐ฟ๐ฝ๐ฟ๐ถ๐๐ฒ $๐ฏ๐ฑ๐ ๐๐ฒ๐ฏ๐ ๐ฅ๐ฒ๐ฝ๐ฎ๐๐บ๐ฒ๐ป๐ ๐๐ณ๐๐ฒ๐ฟ ๐ ๐ฎ๐๐๐ถ๐๐ฒ ๐ช๐ถ๐๐ต๐ฑ๐ฟ๐ฎ๐๐ฎ๐น
An Ethereum whale has triggered attention after withdrawing 13,800 ETH (worth $35.26 million) from Coinbase, the top U.S. crypto exchange.
โก๏ธ Shortly afterward, the whale โ identified as address 0x2b0aD โ repaid part of its outstanding ETH debt on Aave, using the withdrawn funds to reduce its variable-rate Ethereum loan backed by cBTC, a wrapped version of Bitcoin available on Coinbase.
โก๏ธ According to blockchain data, 13,750 ETH of the loan was burned, while 13,800 ETH was returned to Aaveโs lending pool.
Despite this hefty repayment, the whale still holds 32,377.6 WETH in debt, worth about $82.61 million.
๐ Market implications?
This maneuver lowers the whaleโs exposure and improves its collateral ratio, possibly as a volatility hedge or preparation for bigger portfolio shifts.
๐ Ethereumโs price remains around $2,600, attempting to recover, while the ETH/BTC pair stays in a longer downtrend. The whaleโs exact motivation โ whether market-driven or internal rebalancing โ remains a mystery.
So far, no further movement has been detected from the wallet.