Major Investor Buys $15M AAVE, Price Nears $270
Key Takeaways
- A major AAVE investor (“whale”) recently purchased AAVE tokens worth 15 million USD.
- The purchase followed the sale of 184.4 Wrapped Bitcoin (WBTC) through OTC provider Wintermute.
- Net inflows from large AAVE holders rose significantly – a sign of increased accumulation.
- The AAVE price briefly reached 270 USD before falling back to 239 USD.
- The price is currently recovering, trading around 260 USD.
Whale Returns – Multi-Million Dollar AAVE Purchase
An experienced AAVE investor, who has been holding large amounts of the token for two years, has made another major move. After selling 184.4 WBTC worth approximately 20.4 million USD via OTC provider Wintermute, the whale invested 15 million USD into AAVE. A total of 57,715 tokens were acquired at an average price of 259.90 USD.
In total, the whale has invested 30.8 million USD in AAVE and is currently sitting on an unrealized profit of over 26 million USD.
Strong Inflows from Large Holders
Data from IntoTheBlock shows a significant increase in capital inflows from large AAVE holders. After dropping to 89,000 USD, the figure jumped to 224,870 USD in just one day. This indicates increased buying activity from institutional or high-net-worth investors.
The so-called “netflow” – the difference between tokens entering and leaving large wallets – also rose. Within a single day, this value increased from 1,400 to 26,860 AAVE. A positive netflow means more tokens were bought than sold.
Wider Market Participation Confirms Uptrend
It’s not just the whales showing interest. A clear trend is also visible on trading platforms: for three consecutive days, exchanges recorded negative netflows for AAVE. This means more tokens were withdrawn than deposited – a sign that many investors prefer to hold their AAVE off exchanges. Such behaviour suggests long-term confidence and bullish expectations.
Price Development and Outlook
The increased demand has already impacted the price. AAVE reached a daily high of 262 USD yesterday and recently stabilized around 260 USD – a 1.73% increase within 24 hours.
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If the current buying momentum continues, a renewed attempt to break the 270 USD mark is likely. Should this resistance level be surpassed, the next price target would be around 284 USD. However, if the market turns, the price could fall back to the support zone around 231 USD.
Our Assessment
The recent activities of major investors indicate growing confidence in AAVE. The strategic entry of an experienced whale following a BTC sale is a strong signal. Positive netflow data and broader market participation also point to a potential trend reversal.
As an investor, it’s worth keeping a close eye on AAVE in the coming days. Whether the token can sustainably surpass the 270 USD mark will depend heavily on broader market behaviour. However, the current trend clearly shows: interest in AAVE is back.
Sources
- IntoTheBlock
- CryptoQuant
- Wintermute OTC
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