AAVE -1.03% in 7 Days as Whale Activity and On-Chain Metrics Highlight DeFi Leverage

On NOV 12 2025, AAVE dropped by 0.86% within 24 hours to reach $205.64, AAVE dropped by 1.03% within 7 days, dropped by 9.84% within 1 month, and dropped by 33.31% within 1 year.

A major Ethereum whale has leveraged Aave’s decentralized lending platform to accumulate over $1.33 billion worth of ETH in the span of just a few days. According to on-chain analytics from Lookonchain, the whale borrowed $270 million in USDC and USDT from Aave and used the borrowed stablecoins to purchase 385,706 ETH — valued at approximately $1.33 billion at current prices. The whale’s collateral consists of $584 million in WETH, maintaining a healthy ratio of 2.1, indicating that the position is currently well-secured against liquidation risks.

The whale’s buying spree began on November 4 and has continued through November 12, with the most recent activity seeing the addition of 30,548 ETH, worth about $105.3 million. This pattern of borrowing and reinvesting has been repeated multiple times, with large volumes of USDC being transferred to Binance hot wallets and swapped for ETH. This strategic accumulation suggests a high conviction in Ethereum’s long-term price trajectory.

Another whale, identified by the address 0x9992, has followed a similar strategy. Recently, this address borrowed $10 million in USDC from Aave to purchase an additional 2,909 ETH. The whale has already deposited 83,816 ETH into Aave, which is currently valued at approximately $2.886 billion in collateral, and has borrowed $122.89 million in stablecoins. This aggressive buying strategy is consistent with broader DeFi trends that show a strong appetite for leveraged ETH positions.

Market analysts are closely watching these developments, as the combined buying power of these whales could serve as a catalyst for a broader Ethereum rally. The timing of these transactions also aligns with speculative chatter around a potential ETH ETF approval in early 2026, which may further amplify market sentiment.

Backtest Hypothesis

The recent Aave-driven Ethereum accumulation by whales is indicative of larger market strategies that rely on leverage and timing. To explore how such market events historically performed, a backtest strategy can be applied to measure the performance of a stock or index after days where the close-to-close move was ≤ -10%. This kind of event-based backtest can offer insights into the average performance, optimal holding windows, and risk-reward ratios following large down days.