The whale just moved: 40,975 ETH transferred to DeFi, lending out 63 million USDT

SellTheBounce · 2026-01-19T09:20:04+00:00

Recently, a new wallet withdrew 40,975 ETH from an exchange, worth over $120 million, and then lent out 63 million USDT on Aave V3. This indicates that large investors may be optimistic about the future of ETH, engaging in arbitrage or optimizing liquidity management. It is worth monitoring the subsequent market trends.

SellTheBounce

2026-01-19 09:20:04

Abstract generation in progress

On-chain data just showed a major movement.

According to Onchain Lens real-time monitoring, within the past 2 hours, a new wallet address withdrew 40,975 ETH from a certain exchange in large amounts. Based on current prices, this asset is worth over $120 million. More interestingly, after these Ethereum were transferred into Aave V3, 63 million USDT were immediately borrowed from the protocol.

This is a typical whale lending operation. The pattern of depositing ETH → borrowing USDT usually indicates several possibilities:

Possibility 1: Bullish Outlook
Whales collateralize ETH to borrow stablecoins, usually indicating confidence in ETH’s future performance, aiming to gain additional USDT liquidity through lending while retaining ETH positions. Ethereum is currently trading around $3.21K, and executing this move at this time sends significant market signals.

Possibility 2: Arbitrage Operation
It could also be a targeted operation involving a specific token or ecosystem project, or exploiting interest rate differentials of stablecoins across protocols. A USDT wallet holding 63 million USDT is substantial and can execute various strategies.

Possibility 3: Liquidity Management
A newly created address performing such a large operation might also be institutional funds rebalancing, using Aave V3 lending markets to optimize their liquidity structure.

Regardless of the scenario, the combined operation of 40,975 ETH + 63 million USDT is a significant on-chain signal worth monitoring. The subsequent ETH price movement and DeFi market trends may reveal more information.

ETH1,67%

AAVE4,38%

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