$1.33B ETH Whale Adds $120M Firepower After Huge Accumulation

A major Ethereum whale, known as “#66kETHBorrow,” has once again made waves in the crypto market. After accumulating a staggering 385,718 ETH worth $1.33 billion since early November. The whale has now borrowed an additional $120 million in USDT from Aave and moved the funds to Binance. It’s a move many interpret as preparation for another major Ethereum buy. The whale’s aggressive strategy has drawn the attention of traders and analysts. Who sees this as a bold bet on Ethereum’s long-term strength despite current market volatility.

Massive Borrowing Signals More ETH Buys Ahead

On-chain data from Lookonchain revealed multiple transactions over the past few hours. This shows the whale transferring $80 million USDT and $40 million USDT from Aave to Binance. In total, $120 million in new liquidity was mobilized, all sourced from borrowed funds. Just yesterday, the same address purchased 30,548 ETH worth $105.3 million. This adds to a buying spree that began on November 4. In total, the whale has now acquired nearly 386,000 ETH. 

They positioned themselves as one of the most active large-scale Ethereum accumulators in recent months. Their Aave position shows extensive leveraging, with $270 million borrowed so far and a health rate above 2.0. It suggests they still have considerable margin room. The latest deposits to Binance appear to be a setup for new large ETH market entries. This continues an accumulation pattern that has intensified since last week.

Analysts Call It “High-Conviction” Strategy

Market watchers are split on whether this is a sign of confidence or recklessness. Some, like crypto analyst Joe @SelfSuccessSaga, see this as a 4D chess move. He is pointing to the whale’s apparent strategy of buying dips while most traders hesitate. “Using Aave to borrow shows serious conviction, not casual market dabbling,” he said. Suggesting that large traders often accumulate aggressively before market rallies. 

Others, however, warn that such extreme leverage can backfire. “Whale gearing up to buy even more ETH like he’s speedrunning liquidation mode,” one user joked. They are highlighting the risks of borrowing heavily in a volatile market.

Market Impact and Community Reaction

Ethereum’s price has held steady around $3,480 despite the whale’s aggressive buying. It reflects a balanced tug between bullish accumulation and cautious profit-taking across the market. Traders speculate that if this whale continues to absorb liquidity. It could fuel another short-term rally.

Community reactions to X were mixed; some praised the whale’s confidence. While others saw it as a dangerous game of leverage. “He’s treating ETH like a Black Friday sale,” one user wrote. While another warned, “Who’s going to pay for his long when the market turns?”

The Whale’s Next Move

The crypto community now watches closely as the #66kETHBorrow whale adds more ammunition to their position. If the $120 million USDT recently sent to Binance is used to buy more ETH. The total accumulation could soon surpass half a million ETH, worth over $1.7 billion. Whether this strategy pays off or becomes a cautionary tale about over-leverage. One thing is clear: this whale’s moves are reshaping sentiment in the Ethereum market. It keeps traders on edge and fuels speculation about the next major price shift.