As a seasoned crypto investor with a knack for spotting trends and understanding market dynamics, I find the recent surge in AAVE‘s price intriguing. Despite Stani Kulechov, the founder of Aave, partially offloading his holdings, the AAVE whales seem to be capitalizing on this opportunity, which is a testament to the confidence they have in the project.
Regardless of broader market volatility, the cryptocurrency AAVE from DeFi protocol Aave has experienced a significant price increase due to key updates. In just the past 24 hours, AAVE’s value jumped by more than 10% to reach $135, causing its market capitalization to exceed $2 billion. Aave’s founder, Stani Kulechov, is seizing this moment by selling a portion of his AAVE assets
According to the most recent report from LookonChain, Stani Kulechov has sold a sum of 55,596 AAVE tokens, which amounts to approximately $6.67 million. At present, he continues to possess 243,900 AAVE tokens, valued at around $32.7 million
Stani Kulechov(@StaniKulechov), the founder of #Aave is selling $AAVE!
Starting from February 26th, Stani Kulechov has disposed of approximately 55,596 Aave tokens worth around 6.67 million dollars. At present, he maintains a holding of roughly 243,900 Aave tokens valued at approximately 32.7 million dollars
Address:0xe705b1D26B85c9F9f91A3690079D336295F14F08
— Lookonchain (@lookonchain) September 5, 2024
On one side, Kulechov is offloading AAVE tokens, but on the opposite end, the large AAVE investors (whales) are purchasing these tokens rapidly during the recent surge in price. In other words, while Kulechov sells his AAVE, these whales are secretively acquiring and accumulating more AAVE tokens
From my analysis of the latest blockchain data, I’ve observed two significant transactions involving AAVE coins. One whale has acquired 9,129 AAVE tokens, equating to approximately $1.2 million. Another whale has purchased 7,462 AAVE tokens, totaling around $1 million. These substantial purchases suggest a strong interest in AAVE among these large-scale investors
Based on Lookonchain’s data, a significant investor moved 50,604 Aave tokens, which equates to roughly $6.7 million. Interestingly, this same whale had invested 4,000 staked Ether or around $10.4 million on August 22 to acquire 77,270 Aave tokens when the price was approximately $135. The whale now owns a total of 125,605 Aave tokens, valued at around $17 million. On average, they purchased these tokens for about $134.6 each
20 minutes ago, a whale purchased another 50,604 dollars worth of AAVE ($6.78 million), adding to their existing holdings. Now they own a total of 125,605 dollars in AAVE ($16.9 million). Their average purchase price for these tokens is approximately $134.6
— Lookonchain (@lookonchain) September 4, 2024
Key Developments within the AAVE Ecosystem
More recently, the AAVE V3 was introduced on the Era mainnet, employing zkSync technology for enhanced privacy, scalability, and security. This update seeks to grow the DeFi user community, with a focus on attracting institutional users as well
Meanwhile, Aave Labs has teamed up with MakerDAO for a collaborative effort known as Sky Aave Force. The goal of this project is to link traditional financial systems (TradFi) and decentralized finance (DeFi). Regarding this collaboration, Aave Labs stated:
“Decentralized Finance (DeFi) systems have grown stronger and demonstrated both resilience and compatibility with the market. If we collaborate effectively, DeFi could serve as the foundation for all financial services, providing unparalleled access and fostering innovative applications.”
One notable advancement for Aave is the disclosure that World Liberty Financial, a Decentralized Finance (DeFi) initiative spearheaded by Donald Trump, intends to establish its operations on the Aave platform and the Ethereum blockchain
Read More
Sorry. No data so far.
2024-09-05 18:12