The big AAVE whale accepted the loss and sold all tokens: 3.5 years of waiting were fruitless
Altcoins that could not keep up with Bitcoin's rise in 2024 continued to lose value in yesterday's market declines, while an AAVE whale sold at a loss after waiting for 3.5 years. The whale lost all of its $4 million investment.
While the cryptocurrency world was waiting for the Fed to start interest rate cuts as soon as possible for the increases, September started with a decline, as in the statistics. While Bitcoin fell below $56,000 last night, the meltdown in altcoins was much greater.
The market value of the altcoin index known as TOTAL3, which excludes Bitcoin, Ethereum and stablecoins, fell to $540 billion.
An investor who bought more than $4 million worth of AAVE during the 2021 bullish periods sold at a great loss at the end of his 3.5-year wait.
According to the information provided by the on-chain tracking platform Lookonchain, the investor, who had 17,447 AAVE worth $2.1 million, sold all of these tokens he bought in March and July of 2021. The total loss was $2.14 million.
While the average of the whale was around $246, the current price of AAVE is $129. AAVE, one of the most important and most used DeFi tokens, fell to $50 in the crypto winter of 2022.
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