AAVE Whale Goes On $6.78 Million Buying Spree As Price Recovers 16%

Name	Symbol	Market	Market Cap ($)	Algorithm
stETH	STETHUSD	Crypto	37,667,169,640	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

stETH

STETHUSD

Crypto

37,667,169,640

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-18.44	-0.47%	3,865.31	3,864.93	3,865.31

Price Change

Price Change %

Current Price

Bid Price

Offer

-18.44

-0.47%

3,865.31

3,864.93

3,865.31

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,898.93	3,832.93	3,883.75	3,883.75	- - -

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,898.93

3,832.93

3,883.75

- - -

Exchange	Last Trade	Size	Trade Price	Currency
OKEX	02:08:29	0.435798	3,864.64	USD

Exchange

Last Trade

Size

Trade Price

Currency

OKEX

02:08:29

0.435798

3,864.64

USD

Price x Volume	Volume	Base Symbol	Related Pairs
23,277.57	6.02	STETH

Price x Volume

Volume

Base Symbol

Related Pairs

23,277.57

6.02

STETH

AAVE Whale Goes On $6.78 Million Buying Spree As Price Recovers 16%

05/09/2024 8:00am

NEWSBTC

AAVE, the native token of the crypto lending protocol with the same name, was among the top performers during August. The cryptocurrency showed strength throughout the retraces, displaying green numbers in most timeframes after recovering. Its performance gathered the attention of crypto analysts, who consider the token could become a top narrative at the end of the year. As a result, crypto whales have turned their eyes to the token, accumulating millions of dollars worth of AAVE in the past month. Related Reading: FET Price Targets $3.4 After Breakout, Here Are The Key Levels To Watch Whales Continue Buying Spree AAVE became one of the best-performing cryptocurrencies since August, rising nearly 63.5% in the last 30 days. This performance sparked renewed interest in the token, driving whales to accumulate it throughout the past two weeks. Since August 20, the crypto lending protocol’s token caught the attention of several whales. As reported by on-chain data analysis firm Lookonchain, large investors have purchased around 170,382 tokens, worth $22.27 million, in the last two weeks. One whale took advantage of the price drops and accumulated over 120,000 AAVE since August 21. This whale used 4,000 stETH to buy 77,270 AAVE tokens two weeks ago. The purchase was valued at $10.4 million, with an average token price of $135. On Wednesday morning, the same investor bought another 50,604 tokens, worth around $6.78 million. After the buying spree, the whale holds 125,605 AAVE, worth $16.9 million, purchased at an average price of $134.6. AAVE Recovers $130 Support Zone AAVE’s price dropped over 12% to $116 as Bitcoin dropped below the $57,000 mark on Tuesday night. However, the token quickly regained over 16% of its price to trade above the $135 range. The price recovery appears to be fueled by whale activity and recent reports of a Trump link, as noted by some analysts. On Wednesday, reports suggested that Donald Trump’s crypto project, “World Liberty Financial,” will be a DeFi lending platform based on Aave and Ethereum. Following the news, Altcoin Sherpa highlighted the token’s “nice move,” adding that it “undoubtedly” is one of the strongest cryptocurrencies in the market. Nonetheless, the analysts suggested that AAVE might continue to chop around the current price range in the short term. According to Nebraskangooner, the token has one of the “best-looking monthly charts” but will continue to depend on the broader market’s performance. To the analyst, AAVE’s price will likely go down if the market drops. Related Reading: Dogwifhat (WIF) Leads Memecoins Recovery With 12% Jump, Is $2.2 The Next Stop? However, he also considers it is worth keeping an eye on as it could be one of the best-performing assets “if the market finds a good support level.” Crypto trader CrediBull also suggested that the token could target the $150 mark if Bitcoin and Ethereum bounce from the current levels. As of this writing, AAVE is trading at $130, a 1.2% drop in the last 24 hours. Featured Image from Unsplash.com, Chart from TradingView.com

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