AAVE Whales Accelerate Accumulation Amid Crypto Market Volatility

AAVE Whales Seize Opportunity as Prices Dip

In the wake of the recent cryptocurrency market correction, AAVE whales have stepped up their accumulation of the popular DeFi token. After rallying to the $270 mark, AAVE faced a stiff resistance level and pulled back to $239, offering a fresh entry point for large-scale investors and seasoned market participants.

Major Whale Activity Signals Renewed Confidence

On-chain analytics platform Ember reports that a prominent AAVE whale, who sold 184.4 Wrapped Bitcoin (WBTC) worth approximately $20.4 million just one day earlier, has re-entered the market by accumulating $15 million in AAVE tokens. Within the last 24 hours, this whale has purchased 57,715 AAVE tokens at an average price of $259.90. Over the past two years, the same whale has invested nearly $30.8 million in AAVE, currently holding an unrealized profit of about $26.32 million.

Whale Inflows and Exchange Outflows Point to Bullish Sentiment

It isn’t just a single whale making moves. Data shows a significant uptick in the overall inflow of AAVE tokens to large whale wallets—jumping from 89,000 to 224,870 in just 24 hours—indicating a surge in whale accumulation. Moreover, the net capital inflow from whales has increased from 1,400 to 26,860 in the same time frame, suggesting whales are actively buying rather than selling.

Exchange data also reveals that AAVE has witnessed three consecutive days of negative net inflows, implying more withdrawals than deposits. This pattern typically highlights a strong bullish sentiment amongst investors, as tokens are often moved off exchanges for safekeeping rather than sale.

AAVE Leads Profitability Rankings Among Top 100 Cryptocurrencies

In the past 24 hours, AAVE’s price surged by 8.68%, reaching $263.30 and securing the top spot in daily profitability among the top 100 cryptocurrencies. Should this momentum continue, AAVE could reclaim its $270 resistance level and potentially target $284. However, failure to maintain these gains may see prices revisit the $231 support zone.