As the 2024 holiday season approaches, the DeFi and Memecoin markets are experiencing a buying frenzy. Whales and institutions are hoarding Ethereum-based DeFi tokens at an astonishing rate, bringing new hot spots and opportunities to the market. From the skyrocketing price of AAVE to the crazy performance of memecoin on the Solana chain, who is playing the leading role behind this drama?
Galaxy Digital spends $50 million, whales buy AAVE and UNI
This time, the blockchain giant Galaxy Digital stood at the center of the storm. They withdrew 1.07 million Uniswap (UNI) tokens (worth $18.9 million) and 27,722 Aave (AAVE) tokens (worth $10.19 million) from the exchange last week. According to Arkham Intelligence data, the total value of AAVE and UNI currently held by this institution has reached a staggering $56.26 million.
The actions of whales are even more surprising: a mysterious big investor borrowed $3 million to buy another 11,605 AAVE tokens. The 87,098 AAVE tokens he has held since October have now unrealized profits of up to $18 million.
AAVE surges 300%, how long can the whale carnival last?
AAVE’s performance in 2024 can be described as “on the rise”. So far, the token has risen by more than 300% this year, soaring from $268 to $366.71 in the past 24 hours alone, and trading volume has skyrocketed by 35%.
Analysts pointed out that this wave of growth is partly due to the market layout of World Liberty Finance, which is owned by Trump. The DeFi platform recently purchased a large number of tokens, including 37,052 Chainlink (LINK) and 685 AAVE, which is obviously aimed at the "spring" of DeFi.
Memecoin on Solana: Fun Name, Even Crazier Returns
In addition to DeFi, Memecoin has also attracted the attention of a large number of whales. An investor bought 5.73 million CHILLGUY tokens for 2025 SOL, and then sold them for 9963 SOL, making a profit of 7938 SOL, equivalent to about 1.79 million US dollars. The whale then bet again and bought 8.15 million FARTCOIN for 2.75 million US dollars, and now has an additional unrealized profit of 2.53 million US dollars on the books.
These Memecoins on the Solana chain have become a paradise for speculators. FARTCOIN has soared 257% in the past week and hit a record high of $0.72. For a time, the market was extremely hot and participants rushed in to try to get a piece of the pie.
Investment enlightenment behind the whale madness
Whether it is the institutional hoarding of AAVE or the profiteering frenzy of Memecoin, what lies behind it is the polarization trend of the crypto market: DeFi is still the hot spot for long-term investors, while Memecoin has become a paradise for short-term speculators.
However, the market fluctuations caused by whale actions also remind us: we need to be cautious in chasing hot spots and be patient in long-term planning. Whether we value the technical value of DeFi or indulge in the explosive returns of Memecoin, we must remember not to be led by the market's "FOMO sentiment".
Insight into the market rhythm is the beginning of controlling wealth! Follow Lao Tan closely, plan ahead, and let the next peak belong to your account! Follow Lao Tan and never let the opportunity slip away!
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