Crypto Whale Builds $18 Million Leveraged Ether Long in 24 Hours

A recent crypto whale has taken a significant position in Ether (ETH) by building a leveraged long position worth $18.74 million over the past 24 hours.

The wallet, associated with address 0xc24...FE8d2 and labeled '58bro.eth', withdrew 3,000 ETH from Binance and deposited them into Aave, a decentralized lending platform.

Using borrowed funds, the whale then took on additional exposure to ETH by borrowing $9 million in USDT (Tether) through Aave's lending service.

The resulting position brings the wallet's cumulative ETH holdings to approximately 7,000 units at an average entry price of around $2,677.59 per unit.