In-depth analysis of data on the AAVE chain: active funds, large currency holders and increasing holding trends
AAVE, as a leader in the DeFi field, its on-chain data reveals a lot of interesting information. Currently, the circulating market value of AAVE has reached US$2.3 billion, and that of FDV has reached US$2.46 billion. The monthly new circulation volume has stabilized at 43,000 pieces. It is worth noting that U.S. time zone funds are actively increasing their holdings of AAVE, showing the international market’s strong interest in this project.
Judging from the profitability of large currency holders, although most large holders are profitable, the overall profitability is not high, with the median being only 20%. This reflects that AAVE's price fluctuations have not brought significantly high returns, and also implies that position holders may have experienced multiple changes of hands and are no longer the same investors at the beginning of the bull market in 2021.
The financial strength of those who have increased their holdings of AAVE cannot be underestimated. The amount of funds in the addresses of these increasers is generally large, showing the market's optimistic expectations for the future prospects of AAVE. Among those who have increased their holdings, many hold a variety of assets but prefer to invest in heavily favored currencies. Their investment strategies favor long-term holding rather than short-term speculation.
In terms of exchanges, changes in AAVE’s holdings on major exchanges are also attracting attention. In particular, fund activity in the U.S. time zone is significantly higher than in other regions, which may be related to AAVE's higher awareness and acceptance in the U.S. market. In addition, although the number of transfers between DEX and CEX is frequent, the flow of funds within the exchange still dominates.
Taken together, AAVE's on-chain data shows a multi-layered market portrait: U.S. funds dominate the increase in holdings, large currency holders hold it for a long time, the market changes hands sufficiently, and there are strong increasers. These factors together constitute AAVE's current market structure and provide an important reference for future trends. Whether AAVE can continue to maintain its leading position on the DeFi track deserves our continued attention.
