Major AAVE whale admits loss and sells all tokens: 3.5 years of wait is inconclusive

While the altcoins, which could not keep up with the rise of Bitcoin in 2024, continued to lose value in yesterday's market declines, an AAVE whale sold from the 3.5-year wait to a loss. The whale lost its entire $4 million investment.

While the cryptocurrency world expected the Fed to start interest rate cuts as soon as possible, September began with a decline, as in the statistics. While Bitcoin fell below 56 thousand dollars last night, the meltdown in altcoins was also much greater.

The market value of the altcoin index, known as TOTAL3, which excludes Bitcoin, Ethereum and stable coins, has dropped to 540 billion dollars.

The whale couldn't stand it and sold it

An investor who received more than 4 million dollars worth of AAVE in the rising periods of 2021 made sales with great losses at the end of his 3.5-year wait.

According to the information given by the on-chain tracking platform Lookonchain, the investor, who had 17447 AAVes worth 2.1 million, sold all of these tokens he bought in March and July of 2021. The total loss was 2.14 million dollars.

While the average of the whale is around 246 dollars, the current price of AAVE is 129 dollars. AAVE, one of the most important and most used DeFi tokens, fell to $50 in the crypto winter of 2022.