A Wave of Large AAVE Transactions Catches Attention as Whales Unload Tokens on Exchanges

A dormant whale, inactive for over a year and a half, recently deposited 25,790 AAVE (worth approximately $3.38 million) to MEXC

Several major AAVE holders, or “whales,” have been observed to be unloading large quantities of AAVE tokens on various exchanges, indicating a trend toward profit-taking.

One dormant whale, who had been inactive for over a year and a half, recently deposited 25,790 AAVE (worth approximately $3.38 million) to MEXC, possibly aiming to capitalize on the recent price gains.

This whale initially purchased 27,263 AAVE between April and June 2023 for about $2.12 million, at an average price of $77.75 per token.

Just an hour ago, the same whale offloaded 25,790 AAVE at a price of $131.16, potentially realizing a 68.7% profit or around $1.38 million.

More Notable Whale Activities Around AAVE Tokens

Additional whale activity includes notable transactions involving other large AAVE holders. Approximately three hours ago, the address 0x790c transferred 7,822 AAVE (worth $1.04 million) from the Aave protocol directly to Binance. Cumberland, another prominent player, deposited 10,000 AAVE (valued at $1.29 million) to OKX six hours ago. Galaxy Digital also moved 7,897 AAVE (worth $1.02 million) to Binance ten hours ago.

Whales are dumping $AAVE!

0x7634 withdrew 25,790 $AAVE($3.39M) from #Aave and deposited it to #MEXC 50 minutes ago.

0x790c withdrew 7,822 $AAVE($1.04M) from #Aave and deposited it to #Binance 3 hours ago.

#Cumberland deposited 10,000 $AAVE($1.29M) to #OKX 6 hours ago.

Galaxy Digital withdrew 7,897 $AAVE($1.02M) from #Aave and deposited it to #Binance 10 hours ago.

These transactions, involving multiple large deposits to exchanges, suggest that some major AAVE holders may be cashing out on recent price increases.

As Bitcoin has been rallying, some altcoin holders are cashing out on recent price increases, which could be signaling caution for the AAVE market in the short term.

These moves are part of a broader market adjustment as altcoin prices fluctuate.

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