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Whale sells off more than 20,000 ETH to repay debt, Aave position still holds over 30,000 ETH
【Blockchain Rhythm】On December 18th, on-chain data monitoring shows that a whale wallet holding a massive ETH position sold a large amount within two days. This whale, which accumulated a long position through a cyclic lending strategy, is reducing its holdings — it sold 20,599 ETH at an average price of $2,869, cashing out a total of $59.1 million to repay debt.
According to on-chain tracking data, this whale also holds a position of 30,000 ETH on the Aave platform (valued at $85.2 million), but is simultaneously carrying an outstanding debt of $15.7 million. Such large-scale selling usually reflects market participants adjusting their risk exposure or responding to pressure on lending platforms, highlighting the current risks associated with leveraged trading.