In recent market activity, the behavior of smart money (SM) and whales has shown a notable trend of accumulating $AAVE.
From August 28 to September 1, smart money continued to increase its $AAVE holdings, with buying pressure outweighing selling. However, over the past four days, there has been a gradual shift, as SM started to sell off some of its $AAVE holdings.
On the other hand, whale activity has been equally intriguing. Just four hours ago, a whale made a significant move by withdrawing 16,590 $AAVE (worth $2.21 million) from Binance at a price of $133.4. This marked the first time this particular whale moved $AAVE to their personal wallet, hinting at possible strategic accumulation.
🔥 Update: Accumulation Behavior of $AAVE by Smart Money and Whales
❤️ Check in-depth analysis of $AAVE here: https://t.co/Ewp7qnigHv
💰 Behavior of Smart Money (SM):From August 28 to September 1, SM continued to accumulate $AAVE, buying pressure is stronger than selling.… pic.twitter.com/nvpM3OcSnW
— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) September 6, 2024
Another Whale Buys 582 $AAVE In Just One Day
In addition, another whale known by the alias “Thiswillmakemeloveagain” made a notable purchase of 582 $AAVE, valued at $71,300, just one day ago. This whale has been steadily accumulating $AAVE since August 20, and currently holds a substantial position of 21,300 $AAVE, which is worth approximately $2.84 million.
AAVE’s dominance in the DeFi landscape is further solidified by its impressive performance in generating fees. Over the past 30 days, AAVE leads the top DeFi platforms, raking in $24.4 million in fees. MorphoLabs and Venus are close competitors, but AAVE remains at the forefront.
Top #DeFi Giants by 30-Day Fees!
Who’s Leading the Lending and Borrowing Game?#AAVE dominates with $24.4M in fees while MorphoLabs and Venus are close behind.#CoinPedia #Crypto #Blockchain #CryptoCommunity pic.twitter.com/7AK0AKmco8
— Coinpedia (@CoinpediaNews) September 6, 2024
These accumulation trends, along with AAVE’s position among DeFi giants, reflect growing confidence in the protocol from both smart money investors and whales. The continued interest in $AAVE could signal strong momentum for the asset in the coming weeks.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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