Crypto whales buy AAVE in large quantities, market volatility is imminent
Despite Bitcoin's recent sideways fluctuations, two major cryptocurrency whales have made big moves in the DeFi field. According to data from Lookonchain, an on-chain tracking platform, these whales recently purchased 16,592 AAVE, worth about $2.2 million. This large amount of money has attracted widespread attention in the market, and the whales' actions have also made everyone speculate about the future of AAVE.
Are whales optimistic about the future of AAVE?
As a well-known DeFi protocol, AAVE allows users to borrow and lend a variety of crypto assets on its platform. Its strong ecosystem and continued expansion have attracted the attention of a large number of investors. The purchase of whales this time is seen as a bullish signal, indicating that big players are very confident in the future development of AAVE.
Whales are usually individuals or institutions holding a large amount of crypto assets, and their transactions often affect market trends. The 16,592 AAVE purchased this time are worth up to $2.2 million, so the market speculates that this will push up the price of AAVE.
Whales continue to increase their holdings
More importantly, a well-known whale recently purchased 50,605 AAVE from Binance for a total of $6.8 million. On-chain data shows that since August 21, the whale has accumulated 125,000 AAVE, with total assets exceeding $73.72 million.
The recent large purchases by whales show confidence in the future of AAVE.
Whale activity can have a significant impact on market trends and prices.
Paying attention to whale movements can help to gain insight into market changes in advance.
AAVE prices have risen 8.34% in the past 24 hours and are currently trading at $133.57. The market continues to pay attention to further developments that these large buy orders may bring.
