According to on-chain analyst Ember (@EmberCN), due to Aave temporarily suspending WETH withdrawals, the deposit receipt aEthWETH has traded at a discount. The whale address 0x8ad withdrew 13,000 ETH (approximately $30 million) from an exchange, used it to purchase 13,100 aEthWETH via swap, and then repaid its Aave ETH loan at a 1:1 ratio, netting a profit of 143 ETH (approximately $330,000).
Whale arbitrages Aave aEthWETH discount, profits 143 ETH
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Summary
ETH news: A whale took advantage of a discount on Aave’s aEthWETH token following the suspension of WETH withdrawals. The whale transferred 13,000 ETH ($30 million) from an exchange, swapped it for 13,100 aEthWETH, and used the tokens to repay ETH loans on Aave. The trade generated a profit of 143 ETH ($330,000). ETH update: This move underscores the temporary mispricing of aEthWETH and the speed of arbitrage in DeFi markets.
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