Aave’s price saw a surge of over 12% amid heightened whale activity and a broader jump in the global crypto markete
At the time of writing,Aave has become the 47th largest cryptocurrency, with its market cap exceeding $1.89 trillion as its price soared 12.4% on Aug. 20, trading at $126.9, according to data from crypto.news
Despite this rise, the cryptocurrency remains down 80.8% from its all-time high of $661.6, while its daily trading volume is staying at $392 million.
Meanwhile, blockchain analytics firm Lookonchain revealed that whales had significantly increased their holdings of Aave within just a three-hour window. According to their data, these large-scale investors acquired a total of 31,407 AAVE, valued at approximately $3.92 million.
In one instance, the whale address 0x3737 spent 813 ETH, equivalent to $2.18 million, to purchase 17,690 AAVE at a price of $123 per token. Another whale, identified by the address 0x1D15, withdrew 13,717 AAVE worth about $1.73 million from Binance. As of press time, that whale holds a total of 19,373 AAVE, valued at $2.45 million.
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