Over the past three weeks, iCrypto’s Whale Chart has revealed a consistent rise in outflows from centralized exchanges (CEX) and an increase in inflows to whale wallets, particularly within the $90-$100 price range.

This trend suggests that large holders are gradually moving their assets off exchanges, potentially signaling a strategic shift in their portfolios.

However, during the period of August 2-10, whales were also actively selling on decentralized exchanges (DEX), as seen on iCrypto’s platform.

This could indicate that these whales were engaged in liquidity provisioning across both CEX and DEX platforms, positioning themselves for future market movements.

Since August 12, there has been a resurgence in whale re-accumulation on DEXes, coupled with increased outflow volumes from CEX for AAVE. Noteworthy transactions in the last 24 hours include:

– A $3 million withdrawal of AAVE from OKX to the Cumberland wallet (icrypto.ai/wallet/0x8b446…).
– Whale 0x8b44 (icrypto.ai/wallet/0xad6ea…) pulling out 10,000 AAVE, valued at approximately $1.05 million, from Binance.

Notable Activities Brings Renewed Confidence In AAVE

These activities highlight a renewed interest in AAVE among smart money investors.

Additionally, Stani Kulechov, the founder of Aave, recently shared that the platform has surpassed its previous all-time high in the number of active borrowers, with total value locked (TVL) now standing at $11.57 billion. This marks a 70% increase since the start of 2024, reflecting strong growth and confidence in Aave’s ecosystem.

Data from Dune Analytics further supports this bullish sentiment, showing that AAVE nearly reached an all-time high in weekly active borrowers last week, along with a similar surge in weekly depositors. This robust accumulation by whales and smart money indicates a strong belief in AAVE’s potential as the platform continues to expand.

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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