A large whale is making bold moves in the $AAVE market, significantly increasing their holdings over the past 48 hours.

Nine hours ago, the whale purchased 31,173 $AAVE tokens, worth approximately $4.8 million, and deposited them into the Aave platform.

Following this, they borrowed 2.7 million $GHO from Aave, swapped it for $USDC, and deposited the $USDC into Coinbase to buy even more $AAVE.

Just three hours ago, the whale continued their buying spree, acquiring another 16,818 $AAVE tokens, worth $2.59 million. Once again, these tokens were deposited into Aave, followed by borrowing an additional 2 million $GHO, which was likely used to purchase more $AAVE. This whale has accumulated a total of 47,991 $AAVE tokens, valued at $7.45 million, in just two days, showcasing a strong conviction in the future of $AAVE.

$AAVE and High Profile Whales 

This aggressive accumulation strategy highlights a growing trend among whales going long on $AAVE, leveraging Aave’s decentralized finance tools to increase their positions and maximize gains.

Meanwhile, Abraxas Capital Management has also been making strategic moves. They recently deposited $13 million USDC into Bybit. Prior to this, they staked $wstETH into Aave and borrowed the $USDC used for the deposit. These coordinated actions between whales and large capital managers signal a strong interest in the Aave ecosystem and broader DeFi space.

As $AAVE continues to attract whales, the market may see further upward pressure, driven by these sizable investments and the confidence of high-net-worth traders in decentralized finance protocols.

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