Making $80 million in profits: analyzing Yi Lihua's $400 million ETH move with data
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Making $80 million in profits: analyzing Yi Lihua's $400 million ETH move with data
Profits secured are steps forward.
Navigating Web3 tides with focused insightsAuthor: 2898
You can just go all-in with tens of thousands of dollars to buy crypto, but what if you have $400 million?
How should you buy?
If you're unsure how to manage your assets, the investment fund operations under Yi Lihua might offer some useful reference.
Article outline:
🧨 Genius move: Buying the dip during maximum FUD
🛒 Buy the dip by averaging down—small amounts, multiple times
🤔 Can you guess their holding cost?
💼 Secure profits to go further
🧾 How to learn bottom-fishing strategies from on-chain whales
⚠️ Note
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Addresses: Focus on four addresses linked to Yi Lihua's fund
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Cost basis: A large amount of ETH was deposited into Aave in early 2025. This is considered long-term holdings, so we can only estimate costs based on market prices at that time
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Purpose: To understand how big players execute their bottom-buying strategies
1. Genius move during maximum FUD 🧨
Address one:
0x8b0e4a56b3bc5ecbbaff8c64b06967c25af1f319
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9:44 PM, May 26: Spent $8M to buy 3,100 ETH, deposited into Aave (using funds borrowed from Aave)
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9:30 PM, May 26: Borrowed $8M from Aave
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3:26 AM, April 14: Borrowed $3.8M from Aave, transferred out
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3:25 AM, April 14: Spent $6.87M to buy 4,298 ETH, deposited into Aave
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0:14 AM, March 27: Deposited 366 ETH into Aave
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3:27 PM, March 25: Spent $750K to buy 366 ETH
Total:
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Principal: $7.62M
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Current value: 366 + 4,298 + 3,100 = 7,764 ETH (approx. $21M)
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Profit: $13M 💰
Bottom fishing should be done in stages:
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Stage 1: During maximum FUD on April 14
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Stage 2: Leverage up when the trend becomes clear on May 26, with similar capital size as initial buying
🤔 Insights
1️⃣ Do large investors still prefer Binance? Security comes first after all
2️⃣ This address bought a huge amount of NEIRO—that explains why it was highlighted in our previous research report
The research report was published on April 24; continuous buying occurred from May 11 to May 21—this is genuine, real-money conviction
3️⃣ Most transactions in this address are phishing attempts. When managing large funds, always prioritize security—extreme caution is essential
2. Buy the dip by averaging down—small amounts, multiple times 🛒
Address two:
0x74ba54e959bbdd45be1e2f48c8032c776d78376c
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9:48 PM, May 26: Spent $5.1M to buy 1,964 ETH, deposited into Aave (buying ETH on confirmed opportunity)
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9:30 PM, May 26: Borrowed $5M from Aave
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3:31 AM, April 14: Borrowed $900K from Aave, transferred out
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12:45 AM, March 31: Withdrew $1.18M from Binance, deposited into Aave
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4:26 PM, March 24: Spent $2M to buy 965 ETH, deposited into Aave (ETH price: $2,081)
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4:03 PM, March 24: Borrowed $2M from Aave, deposited into Binance
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9:38 PM, March 21: Spent $5M to buy 2,560 ETH, deposited into Aave (ETH price: $1,953)
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9:05 PM, March 21: Borrowed $5M from Aave, deposited into OKX
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9:03 PM, March 21: Withdrew 4,510 ETH from Binance, deposited into Aave
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August 7, 2024: Borrowed $5M from Aave, deposited into OKX
Total:
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Principal: $8.86M
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Current value: 4,510 + 2,560 + 965 + 1,964 = 10,000 ETH (approx. $27.2M)
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Profit: $18.34M 💰
This is an old, actively used address—tracing back to 2024 and earlier, so we won't go further
We cannot determine the original purchase timing or cost for the initial 4,510 ETH
🤔 Insights
Compared to the genius-level timing of the previous address, this one operates more like a seasoned veteran:
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If I believe the asset is undervalued, I'll slowly accumulate
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Each purchase uses relatively small capital—around $5M
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Keep accumulating gradually—never go all-in, always maintain liquidity
3. Can you guess their holding cost? 🤔
Address:
0xd9cf5e2a699c19a33b4ba7831d9525471e262931
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9:12 PM, May 27: Spent $5.07M to buy 1,887 ETH, deposited into Aave (buying ETH on confirmed opportunity)
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8:51 PM, May 27: Borrowed $5M from Aave (one day later than the previous address—also DCA'ing)
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2:53 AM, April 14: Borrowed $1.3M from Aave, transferred out
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4:26 PM, March 24: Borrowed $1.4M from Aave, bought 674 ETH, deposited into Aave (ETH price: $2,077)
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7:10 PM, March 19: Spent $3.11M to buy 1,513 ETH (ETH price: $2,055), deposited into Aave
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6:23 PM, March 19: Deposited 4,058 ETH into Aave (worth $8.33M)
Total:
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Principal: $8.33M
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Current value: 4,058 + 1,513 + 674 + 1,887 = 8,132 ETH (approx. $22M)
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Profit: $13.67M 💰
This is also an old address, actively trading meme coins 😂
We cannot determine when or at what cost the initial 4,058 ETH were acquired
🤔 Insights
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It's clear their target buying zone was around $2,000—so retail isn't that far off
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I also started buying at $2,500, then $2,000, $1,800, $1,400—so remember, most people’s average cost isn’t $1,400
4. Secure profits to go further 💼
Address:
0xf2500b6014dfe916b8e7706434e21b5fb2191a15
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7 hours 58 minutes ago: Transferred out $400K
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7 hours 59 minutes ago: Transferred out $700K to Bybit—buying altcoins?
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22 hours ago: Withdrew $13M from Binance, sent $10M to Aave
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22 hours 30 minutes ago: Received 956 ETH
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22 hours 52 minutes ago: Withdrew 5,000 ETH from Aave, deposited into Binance and sold ($13.4M—combined with later withdrawals, likely fully sold)
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23 hours ago: Borrowed 3,000 ETH from Aave, deposited into Binance and sold ($8M—proceeds used to repay Aave loan)
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9:12 PM, May 28: Borrowed $5.09M, bought 1,900 ETH, deposited into Aave (buying ETH on confirmed opportunity)
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6:52 PM, May 27: Borrowed $5.04M, bought 1,894 ETH, deposited into Aave (buying ETH on confirmed opportunity)
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5:08 PM, March 24: Borrowed $1.99M, bought 957 ETH, deposited into Aave (ETH price: $2,079)
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10:37 PM, March 19: Borrowed $5.07M, bought 2,467 ETH, deposited into Aave (ETH price: $2,055)
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February 26: Deposited 6,922 ETH into Aave (worth $14.23M)
Total:
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Principal: $14.23M
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Current value: 6,922 + 2,467 + 957 + 1,894 + 1,900 = 14,140 ETH (approx. $38.46M)
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Profit: $38.45M
🤔 Insights
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This is a frequently active address—watching its moves reveals their follow-up actions
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Due to frequent activity, it has been targeted by phishing attacks—pages full of scam transactions. Always prioritize security
5. How to learn bottom-fishing strategies from on-chain whales 🧾
From these four addresses, the "Yi Lihua" team demonstrates exceptional capital management and risk control. Their bottom-buying strategy features several core characteristics:
Firm ETH holding: None of these four addresses ever sold ETH—only continuously adding positions and leveraging. Clearly, ETH is their core asset allocation.
Phased accumulation with clear DCA strategy: Whether during periods of maximum FUD or after market reversal, the whales consistently applied “buy the dip, small amounts multiple times,” primarily accumulating in the $2,000–$2,100 range.
Leveraging to amplify returns: Large amounts of ETH were deposited into Aave, then USDC was borrowed to buy more ETH. After confirming the rebound, they promptly closed positions, completing a capital cycle.
Diverse trading styles:
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Some addresses focus on “single-point explosion,” making precise, large-scale buys;
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Others adopt a “veteran approach,” slowly building positions over time;
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Some trade frequently, showcasing strong short-term judgment.
Strong risk awareness: Each deployment is conservative relative to account size, mostly between $5M–$8M. Multiple addresses suffered phishing attempts—a reminder: Security first—on-chain is always a hunting ground.
Bullish rhetoric follows prior positioning: Though publicly calling the bottom at $1,400, on-chain data shows actual accumulation began at $2,000. Separating public narrative from private action is a common tactic among large players.
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