• An Aave whale now holds over 2% of the total circulation.
  • AAVEs’ positive trend continues with an over 4% price increase.

Recently, Aave has witnessed substantial individual accumulation from a prominent whale. Notably, this whale has achieved a remarkable record in terms of the total volume of the token they have amassed.

On the 9th of November, Spot On Chain detected a noteworthy transaction involving Aave. This transaction revealed that a whale had just withdrawn 64,557 AAVE tokens, with an approximate value of $6.7 million. 

Further examination of the whale’s wallet unveiled that they had made withdrawals amounting to 338.794 tokens in the last two days, with a combined value of roughly $34 million.

As of the latest available information, this whale has become the largest individual holder of Aave tokens. The whale currently possesses 2.12% of the total token supply.

According to data from CoinMarketCap, the total supply of Aave tokens is reported to be 16 million.

Aave having a good run

The daily timeframe chart revealed a strong upward price movement for Aave over the past 48 hours. As of the close of trading on 8th November, the price had surged by more than 2.7%, reaching approximately $1.4.

At the time of this update, the value had risen even further, surpassing $1.5 with a gain of over 4%.

Also, this recent price surge has driven the Relative Strength Index (RSI) into the overbought zone. This indicates significant buying pressure and a prevailing bullish trend.

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Author: Adewale Olarinde

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