A significant transaction has been tracked recently, where a crypto whale withdrew 15,747 $AAVE tokens worth 2.12 million. Lookonchain, an on-chain crypto analytical platform, shared the transaction details through X account. Stats reveal that the whale withdrew $2.12M in AAVE from Binance just a few hours ago.
A whale withdrew 15,747 $AAVE($2.12M) from #Binance 1 hour ago.This whale also traded $LDO and $PENDLE before but lost money on both.He lost $1.54M(-54%) on $LDO and $640K(-39%) on $PENDLE.https://t.co/SxZuPS1gw0 pic.twitter.com/FL9Ob139eh
— Lookonchain (@lookonchain) August 23, 2024
The Crypto Whale Also Invested in PENDLE & LIDO
This whale has a history of investing in various cryptocurrencies. Previously, he also invested in Pendle ($PENDLE) and Lido LDO ($LDO) but faced loss on both crypto assets. Investing and trading in $PENDLE and $LDO led him to losses. He lost $640K on $PELNDLE which dropped by 39% and $1.54 million on $LDO which declined by 54%.
The major withdrawal of $AAVE by the whale from Binance has sparked different speculations about the whale’s plans for future trading. Few of the crypto analysts believe that Whale might be sketching a strategic approach, for trading in the future to avoid the major loss anymore. He has already lost around 2 million and to avoid any further loss, he is doing some important transactions.
Why Whale Withdrew $AAVE Holdings?
If we look on the other side of the coin, whale’s withdrawal of $AAVE from Binance might suggest that they should remain active in the crypto market. However, the actual cause of whales remains unclear one can count it as the strategic withdrawal of the whale. The crypto whale is withdrawing his AAVE holding worth of 2.12 million to avoid the major loss or hold it in his wallet as part of long-term planning. But, all of that is nothing but just a set of predictions following his significant withdrawal of 15,747 #AAVE from Binance.
