On January 6, 2025, a prominent cryptocurrency whale, identified as wallet 0x97d, transferred 19,001 AAVE tokens worth approximately $6.5 million to Binance.
This marks a significant move for the whale, who has been strategically accumulating and managing AAVE since mid-2024.
The whale appears to be part of a larger entity controlling two wallets, both dedicated to AAVE investments. Since June 23, 2024, the whale has been holding a substantial amount of AAVE, with current holdings of 70,108 tokens valued at $23.65 million. The total profit generated from this position stands at an impressive $22.8 million, representing a 309% return.
The whale’s journey began on June 23, 2024, when they withdrew 89,109 AAVE tokens from OKX at an average price of just $82.55 per token. The total cost of this initial acquisition was estimated at $7.36 million. Their current valuation underscores the success of this early move, as AAVE’s price has soared significantly since then.
Fast-forward to January 2025, the whale deposited 19,001 AAVE to Binance at a market price of $342 per token. This deposit, worth $6.5 million, raises questions about potential upcoming trades or strategic reallocations.
Interestingly, the whale’s track record isn’t entirely spotless. Before their lucrative AAVE trades, they realized a combined loss of $2.65 million from investments in Maker (MKR) and Lido (LDO). These past setbacks highlight the risk inherent in the volatile crypto market, even for seasoned players.
With a proven ability to capitalize on market opportunities, this whale’s AAVE investments have been a standout success. Their recent $6.5M Binance deposit may signal further strategic moves, making this account one to watch in the coming months.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: skorzewiak/123RF // Image Effects by Colorcinch
The U.S. Supreme Court has delayed its highly anticipated ruling on the legality of President…
President Donald Trump has officially closed the door on any possibility of a pardon for…
Ethereum has officially crossed the ~$300 billion mark in application total value locked (TVL), solidifying…
The U.S. Securities and Exchange Commission has approved Bitwise’s spot Chainlink ETF, marking the first…
Rumble and Tether have officially launched the Rumble Wallet, a self-custodial crypto wallet integrated directly…
BNB Chain is preparing to activate its Fermi hard fork on January 14 at 2:30…