Whale’s $1.81 Million AAVE Trade

A recent whale’s trading activity netted $1.81 million from AAVE crypto trades, ultimately missing a larger profit opportunity.

Whale’s Activity Details

On-chain investor data shows that between August and November 2024, the whale accumulated 43,885 AAVE tokens at an average price of $145.90 each. The investor then staked the tokens as 2,347 AETH but later unstaked and transferred 44,765 AAVE tokens to Binance at $183.27 each, securing a 28% gain before depositing into Aave’s liquidity pool for rewards.

The whale’s spending amounted to $6.4 million, coinciding with AAVE’s price range of $129-$150 during a period of low volatility. The final sale netted $8.2 million, translating to a profit of $1.81 million.

Had the whale sold at the peak of AAVE in December, when prices nearly hit $390, the profit could have soared to $10.9 million.

AAVE’s Recent Market Performance

As of September 2024, AAVE’s price has grown to $181.37, a 37% increase over six months, with a current market cap of $2.71 billion; however, daily trading volume dropped 25% to $172.49 million. The whale’s sell-off may affect AAVE’s upward trend, as history shows that such behavior can lead to short-term corrections.

Technical Analysis

AAVE crypto is currently testing the resistance zone between $377 and $392. A recent price bounce suggests a weakening bearish trend, although it remains in a descending channel since early January 2025. The Money Flow Index (MFI) stands at 30.56, indicating an oversold condition with potential for a price movement above $200 if buying pressure increases.

Should support around $175 fail, AAVE could face another downturn. The impact of whale activity, while not singular in driving market dynamics, reflects broader sentiment and liquidity trends. For AAVE to break the descending trend and reach prior highs, sustained buying pressure is essential, alongside the challenge of breaking through key resistance levels.