Ethereum News Today: 85M USDT Loan Fuels $59.75M ETH Purchase as Portfolio Gains $9.48M, Dips 3.46% in 24H

Konstantin Lomashuk, founder of Lido DAO, secured an 85 million USDT loan from the Aave lending protocol to acquire Ethereum (ETH) via Amber Group. Blockchain analytics firm Arkham revealed that Lomashuk initially transferred 80 million USDT to Amber Group, which subsequently deposited the funds into a cryptocurrency exchange. A week later, Lookonchain reported that Lomashuk withdrew approximately 15,810 ETH (worth $59.75 million) from the exchange, signaling a strategic move to liquidate stablecoins for ETH [1]. His portfolio, as tracked by Arkham, currently includes 69,619 AETH and WSETH tokens valued at over $318 million, alongside $5 million in ETH and 2,000 DAI [2].

The value of Lomashuk’s holdings experienced notable fluctuations. Arkham data indicated a $9.48 million increase in his portfolio over a week, driven by a surge in AWSTETH holdings from $315.84 million to $325.32 million between July 22 and July 29. This growth coincided with a price jump in AWSTETH from approximately $4,500 to $4,600 during the same period. However, the total value of his AWSTETH holdings declined by 3.46% in the 24 hours preceding July 29, dropping to $324.65 million [3].

Lomashuk’s actions align with broader advocacy for Ethereum as foundational infrastructure. In a May report co-authored with Artem Kotelskiy of Cyber Fund, he emphasized Ethereum’s role as “the world’s ledger,” citing its 25 million global users and processing of 40% of weekly stablecoin volumes ($0.5 trillion). The duo highlighted Ethereum’s energy efficiency gains post-Proof-of-Stake transition, reducing annual issuance from 4% to under 1%, and described ETH as “ultrasound money” echoing Bitcoin’s narrative [4]. Lomashuk reiterated Ethereum’s status as a “high-conviction bet,” noting his and Kotelskiy’s decade-long commitment to the ecosystem and their 10x increase in ETH holdings over time.

The founder also addressed Ethereum’s governance, dismissing claims of a “second generation” of the protocol after online criticism. He clarified that no alternative framework exists and stressed the necessity of any future upgrades to complement existing contributions. Lomashuk acknowledged Ethereum’s critical upgrades—EIP-1559 (2021 fee mechanism redesign) and The Merge (2022 Proof-of-Stake transition)—as transformative milestones [5].

His recent remarks reflect broader confidence in Ethereum’s long-term vision, despite short-term volatility. While his portfolio faced a 24-hour dip, the overall trajectory of his ETH accumulation underscores a strategic bet on the protocol’s utility and adoption. The move also highlights Aave’s role in enabling large-scale crypto transactions, though risks associated with leveraged positions and market fluctuations remain inherent.

Source:

[1] Arkham data via https://coinmarketcap.com/community/articles/68889dc994f7305e9acbbf01/

[2] Lookonchain analysis via https://coinmarketcap.com/community/articles/68889dc994f7305e9acbbf01/

[3] Arkham portfolio metrics via https://coinmarketcap.com/community/articles/68889dc994f7305e9acbbf01/

[4] Lomashuk and Kotelskiy report via https://coinmarketcap.com/community/articles/68889dc994f7305e9acbbf01/

[5] Ethereum upgrade context via https://coinmarketcap.com/community/articles/68889dc994f7305e9acbbf01/