Whale borrows $38.4 million in 20 days to buy gold tokens, Aave lending arbitrage reappears

2026-01-16 13:00:09

【Crypto World】Interesting on-chain activity. A large whale has been engaging in lending arbitrage on Aave for the past 20 days—frequently borrowing 18.3 million USDe, then heavily purchasing gold tokens XAUT. Data shows a total of 8,337 XAUT bought, with a total value of $38.4 million. This cycle of borrowing and increasing holdings indicates that this whale is optimistic about the future prospects of precious metal tokens, and also reflects that the DeFi lending market has ample liquidity, providing good room for large-scale fund operations.

AAVE2,84%

USDE0,06%

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PretendingSerious

· 8h ago

This move by the whale is really aggressive, stacking $38.4 million worth of precious metal tokens. Do you really believe in this stuff?

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StableGenius

· 11h ago

lol "看好后市"... actually this is just basic carry trade mechanics, empirically speaking the whale's probably just arbitraging rate differentials. anyone pretending this signals bullish sentiment on physical commodities is fundamentally missing the point

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DAOplomacy

· 15h ago

the whole "abundant liquidity" framing is... arguably understating the non-trivial externalities here. big fish doing 38m in recycled borrows on gold tokens? that's got some interesting path dependency implications for collateral structures

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FastLeaver

· 15h ago

Are gold tokens really that attractive? Even whales are getting impatient and using this trick...

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GasWaster

· 16h ago

lmao the gas fees on those 1830M USDe transfers probably cost more than my entire portfolio... meanwhile this whale's out here doing arbitrage like it's free money. respect the hustle but also why am I broke

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OnlyUpOnly

· 16h ago

Whales' move this time is quite impressive; lending arbitrage can be played like this. It seems they are really optimistic about this wave of precious metal market.

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MemeCoinSavant

· 16h ago

ngl this whale's just doing the classic "borrow stablecoin, dump it into shiny digital gold" thesis... the memetic velocity of this trade pattern is honestly fascinating from a behavioral economics standpoint 📊

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