In recent market activity, the behavior of smart money (SM) and whales has shown a notable trend of accumulating $AAVE.

From August 28 to September 1, smart money continued to increase its $AAVE holdings, with buying pressure outweighing selling. However, over the past four days, there has been a gradual shift, as SM started to sell off some of its $AAVE holdings.

On the other hand, whale activity has been equally intriguing. Just four hours ago, a whale made a significant move by withdrawing 16,590 $AAVE (worth $2.21 million) from Binance at a price of $133.4. This marked the first time this particular whale moved $AAVE to their personal wallet, hinting at possible strategic accumulation.

Another Whale Buys 582 $AAVE In Just One Day 

In addition, another whale known by the alias “Thiswillmakemeloveagain” made a notable purchase of 582 $AAVE, valued at $71,300, just one day ago. This whale has been steadily accumulating $AAVE since August 20, and currently holds a substantial position of 21,300 $AAVE, which is worth approximately $2.84 million.

AAVE’s dominance in the DeFi landscape is further solidified by its impressive performance in generating fees. Over the past 30 days, AAVE leads the top DeFi platforms, raking in $24.4 million in fees. MorphoLabs and Venus are close competitors, but AAVE remains at the forefront.

These accumulation trends, along with AAVE’s position among DeFi giants, reflect growing confidence in the protocol from both smart money investors and whales. The continued interest in $AAVE could signal strong momentum for the asset in the coming weeks.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: skorzewiak/123RF // Image Effects by Colorcinch