As the holiday season approaches, the bullish wave in Defi and memecoins is getting more pronounced. Latest data shows that whales and institutional investors are accelerating the withdrawal of Ethereum-based DeFi tokens from exchanges and buying memecoins in large quantities. The market is undergoing a "big move" of crypto assets, showing major investors' strong interest in short-term gains.
Institutional funds are pouring in, bullish sentiment on the Ethereum network is heating up
According to the latest data from Lookonchain, institutional investors have shown great interest in the Ethereum network's DeFi tokens, especially the blockchain company Galaxy Digital. The company recently withdrew a large number of tokens from the exchange, including 1.07 million Uniswap (UNI) tokens worth $18.9 million and 27,722 Aave (AAVE) tokens worth $10.19 million. Data shows that as of press time, the total value of AAVE and UNI held by Galaxy Digital has reached nearly $56.26 million.
IntoTheBlock's report further confirms this trend, with data showing that Ethereum whales have traded more than $74 billion in the past week, while net flows on exchanges during the same period were $781 million. This data suggests that whales are actively accumulating tokens in preparation for potential profit opportunities in the short term.
Aave token continues to rise, whale activity attracts attention
The recent surge in the price of the Aave token has attracted widespread market attention. According to an update from IBD on the One crypto whale in particular recently borrowed $3 million to purchase an additional 11,605 AAVE tokens, an operation that brought him significant potential profits.
It is worth mentioning that this whale has accumulated 87,098 AAVE since October, worth $22.88 million, and its unrealized profits have exceeded $18 million. According to CoinMarketCap data, AAVE has risen by more than 300% so far this year, especially in the past six months, the price of AAVE has risen by 342%, and the current price has exceeded $360, setting a new high since 2021.
Analysts point out that the recent price surge is related to the market operations of the World Liberty Finance platform associated with Donald Trump. According to whale activity tracking agencies such as Lookonchain, these platforms have recently acquired a large number of DeFi tokens, including 37,052 Chainlink (LINK) tokens and 685 AAVE tokens, further pushing up the market's buying demand.
Solana memecoin craze revives, whales reap huge profits
In addition to the Ethereum network, memecoin on Solana has also become a new favorite in the market. Recently, Lookonchain tracked the trading activity of a Solana whale who made significant profits by buying and selling CHILLGUY, a memecoin inspired by the “just a chillguy” social media craze. The investor initially purchased 5.73 million CHILLGUYs for 2,025 SOL and later sold them for 9,963 SOL, making a profit of 7,938 SOL, equivalent to approximately $1.79 million.
In addition, the whale also invested $2.75 million to purchase 8.15 million FARTCOIN, which currently has a market value of $5.28 million and unrealized profits of more than $2.53 million. Fartcoin's market value has soared to $600 million in the past few weeks, exceeding the market value of 85% of listed companies in the United States. In the past 24 hours, the price of Fartcoin has risen by 58% to a record high of $0.72.
Whether it is DeFi tokens on Ethereum or memecoins on the Solana network, whale activity has undoubtedly become a bellwether of market trends. As the crypto market becomes more active, the volatility of these assets may further increase in the short term.
However, you should be cautious when investing in cryptocurrencies and stay rational. If you want to get more in-depth analysis and market trends of cryptocurrencies, remember to follow Mr. Qiu. Let's ride the wind and waves in this world of digital currency together!
