Yesterday, on-chain monitoring data revealed a major news story — a big holder cleared out all of their 230,350 AAVE in just 3 hours. What did they exchange it for? 5,869.46 stETH and 227.8 WBTC. After this transaction, the price of AAVE dropped by nearly 10% on the spot.
This large position conversion can actually reflect a lot of things. On one hand, the large holders switching from AAVE to stETH and WBTC somewhat shows a preference for more liquid and core assets; on the other hand, it reminds us that large on-chain transactions can still have a significant impact on individual cryptocurrencies. As a leader in DeFi lending, AAVE's sell-off action is enough to draw market attention.
For those interested in AAVE and the DeFi ecosystem, this kind of data is worth pondering - where the money from large holders flows often reveals the true thoughts of market participants.
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NonFungibleDegen
· 4h ago
whales rotating into btc and eth again... probably nothing tho ser
Reply0
CoinBasedThinking
· 4h ago
Large Investors have done a Rug Pull, AAVE directly dumped 10%, this is the true portrayal of Decentralized Finance.
View OriginalReply0
AirdropBlackHole
· 4h ago
It's the same old trick again; Large Investors have to close all positions before they Rug Pull. AAVE is in a tough spot this time.
#BinanceABCs $XRP
On-chain whale moves: 230,000 AAVE were dumped.
Yesterday, on-chain monitoring data revealed a major news story — a big holder cleared out all of their 230,350 AAVE in just 3 hours. What did they exchange it for? 5,869.46 stETH and 227.8 WBTC. After this transaction, the price of AAVE dropped by nearly 10% on the spot.
This large position conversion can actually reflect a lot of things. On one hand, the large holders switching from AAVE to stETH and WBTC somewhat shows a preference for more liquid and core assets; on the other hand, it reminds us that large on-chain transactions can still have a significant impact on individual cryptocurrencies. As a leader in DeFi lending, AAVE's sell-off action is enough to draw market attention.
For those interested in AAVE and the DeFi ecosystem, this kind of data is worth pondering - where the money from large holders flows often reveals the true thoughts of market participants.