New address with over 10,000 ETH large transaction: Borrowing leverage to purchase stETH after Lido staking

HashBandit · 2026-01-19T01:12:23+00:00

On January 19th, a new wallet withdrew 10,057 ETH from Binance, staked it on Lido to convert to stETH, then borrowed 45 million USDT on Aave, purchased more stETH, and deposited it back into Aave. This is a typical leveraged lending operation, and although the current lending position is healthy, it still faces high risks.

HashBandit

2026-01-19 01:12:23

Abstract generation in progress

【Blockchain Rhythm】On-chain data monitoring shows that on January 19, a new wallet address withdrew 10,057 ETH from Binance in a single transaction (worth approximately $33.68 million), and then completed a staking conversion to stETH on Lido. This is just the beginning. More notably, the subsequent operation logic of this address—deposit all stETH into the Aave protocol, borrow 45 million USDT, purchase 13,461 stETH, and then redeposit the newly acquired stETH into Aave. This is a typical leveraged lending strategy, using collateral recycling to expand holdings. According to the data, the current health factor of this address’s lending position is 1.36, which is in a relatively safe zone, but also indicates that large holders are exposed to significant risk in this operation.

ETH-2.79%

STETH-2.84%

AAVE-5.22%

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