A leading fund borrowed a large amount of USDT from Aave, holding 620,000 ETH with an unrealized loss of 50 million.

GasFeeLady · 2026-01-20T11:04:12+00:00

A well-known investment firm has entered the market again, borrowing 30 million USDT from Aave today and transferring it to Binance, indicating an optimistic outlook on the medium-term trend of ETH. Currently, they hold 626,000 ETH, despite an unrealized loss of approximately $50 million. Using a 2x leverage strategy, future market performance will influence the risk.

GasFeeLady

2026-01-20 11:04:12

Abstract generation in progress

【Chain News】An interesting on-chain movement has occurred. A well-known investment firm has recently started to re-enter the market.

Data shows that today they borrowed 30 million USDT from Aave and transferred it directly to Binance, indicating they are preparing for a new round of operations. Looking back to November last year, this institution launched a leverage strategy by using lending tools to accumulate ETH in batches. Currently, their ETH holdings have reached 626,000 tokens, valued at nearly $1.94 billion.

In terms of cost basis, the average entry price is around $3,186. Based on the current price, they are already showing a paper loss of about $50 million. The leverage multiple behind this is 2x — their total borrowing on Aave has reached 1 billion USDT.

This move actually reflects the institution’s view on ETH’s medium-term trend. They dare to add more after the price falls below the cost line, indicating they still expect a rebound. However, a 2x leverage also means risk exposure is present, and the future trend will depend on market sentiment.

AAVE-6,11%

ETH-7,97%

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ETHReserveBank

· 12h ago

Wow, this organization really dares to play. A $50 million unrealized loss and still adding more? I don't believe you.

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GameFiCritic

· 12h ago

Look at this move... Still daring to borrow with 2x leverage, I really don't know if it's confidence or being forced to add more. Carrying a floating loss of 50 million and pushing forward, is this the price of "quality leverage"?

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UnluckyValidator

· 12h ago

Ha, it's these big whales again playing with leverage... risking losing 50 million USD and still daring to add positions, their guts are really something.

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WalletsWatcher

· 12h ago

Are big institutions still increasing their positions? Are they optimistic about a rebound or just gambling... A floating loss of 50 million can be endured, but if it were me, I would have already collapsed.

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