In a bold move that underscores confidence in Ethereum’s future, Konstantin Lomashuk, founder of Lido DAO, secured an $85M USDT loan to acquire $59.75M worth of ETH. This strategic play highlights the growing role of DeFi protocols like Aave in facilitating large-scale crypto transactions. Let’s dive into the details.
Ethereum News: A $59.75M ETH Purchase Fuels Portfolio Growth
Blockchain analytics firm Arkham revealed that Lomashuk transferred 80M USDT to Amber Group, which then deposited the funds into a crypto exchange. A week later, he withdrew 15,810 ETH ($59.75M), signaling a strategic shift from stablecoins to ETH. His portfolio now includes:
- 69,619 AETH and WSETH tokens ($318M)
- $5M in ETH
- 2,000 DAI
USDT Loan from Aave Lending Protocol: A High-Stakes Bet
Lomashuk’s $85M USDT loan from Aave enabled this massive ETH purchase. While his portfolio gained $9.48M in a week, it also faced a 3.46% dip in 24 hours, reflecting market volatility. Key takeaways:
| Metric | Value |
|---|---|
| AWSTETH Holdings | $324.65M |
| 24H Change | -3.46% |
| Weekly Gain | +$9.48M |
Why Ethereum Remains a High-Conviction Bet
Lomashuk and Artem Kotelskiy of Cyber Fund recently highlighted Ethereum’s strengths:
- 25M global users
- 40% of weekly stablecoin volumes ($0.5T)
- Energy efficiency post-Merge (issuance reduced to <1%)
FAQs
Q: How did Lomashuk fund his ETH purchase?
A: He secured an $85M USDT loan from Aave.
Q: What’s the current value of his ETH holdings?
A: Over $318M in AETH/WSETH, plus $5M in ETH.
Q: Why is Ethereum considered “ultrasound money”?
A: Due to its reduced issuance post-Merge and scalable utility.
Q: What risks accompany such large leveraged positions?
A: Market volatility can lead to rapid portfolio fluctuations.
