In a significant move today, a whale or institution made notable purchases of AAVE and UNI. This entity deposited 4 million USDC to Kraken and subsequently withdrew 35,983 AAVE (valued at $3 million) and 123,183 UNI (valued at $1 million).
Currently, the whale holds a substantial amount of both tokens: 142,296 AAVE ($12.1 million) and 1.43 million UNI ($11.6 million).
According to icrypto data, Wofhaley.eth, a prominent trader, has also made strategic shifts in his holdings.
He recently moved part of his portfolio from LINK to AAVE and SNX. Earlier today, Wofhaley.eth purchased 33.41K LINK (~$428.6K), making LINK the most accumulated token among smart money in the past 24 hours.
However, just 20 minutes ago, he swapped a portion of his LINK holdings for $44.3K worth of SNX and $65.36K worth of AAVE. His return on investment (ROI) with LINK from these transactions is +3%.
Santimentfeed data suggests that Chainlink’s weak hands are beginning to capitulate, releasing significant amounts of LINK. The $60 million in LINK realized losses yesterday points to substantial trader fear, uncertainty, and doubt (FUD), which could indicate a local bottom for the token.
These moves highlight a strategic reallocation of assets among savvy investors, focusing on AAVE, UNI, and SNX while reducing exposure to LINK. The whale’s substantial holdings and Wofhaley.eth’s recent trades reflect a calculated approach to capitalize on current market conditions and potential growth opportunities.
The activity surrounding AAVE and UNI, coupled with the shifting sentiment in LINK, underscores the dynamic nature of the crypto market. Investors are keenly observing these developments, as they could signal emerging trends and potential investment opportunities in the near future.
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: alfazetchronicles/123RF // Image Effects by Colorcinch
Elon Musk has implied the possibility of Dogecoin (DOGE) returning as a payment method for…
September 2024 is pivotal for Ethereum's DeFi ecosystem, with several tokens poised for significant growth.…
With the cryptocurrency market entering the final quarter of the year, analysts are expecting altcoins…
The 1inch team has been strategically maneuvering within the crypto market, recently executing a significant…
Penpie, a protocol built on top of Pendle, recently experienced a significant security breach that…
Aave continues to dominate the DeFi sector, boasting over 80,000 monthly active users. However, recent…