Significant changes are occurring in the crypto market: whale activity in AAVE, stable Ethereum trading volume, and the upcoming BlockDAG launch.
AAVE Whales Buy $15 Million in Tokens
The recent purchase by an anonymous investor caught the attention of crypto watchers as they acquired $15 million worth of AAVE tokens via market maker Wintermute. The transaction involved 57,715 tokens bought at approximately $259.9 each, following the liquidation of 184.4 WBTC worth $20.4 million. Blockchain records indicate that this address has been steadily increasing its AAVE holdings since March 2023, accumulating a total of 224,010 tokens at an average price of $137.5. Given AAVE’s current price, this whale is sitting on over $26 million in unrealized profit.
Ethereum Trading Volume Stays Steady
Ethereum's recent dip from $2.8K has raised some concerns, but trading volume tells a different story. Despite the pullback, on-chain data shows reduced retail involvement, reminiscent of patterns in December 2024 when ETH neared $4K without a significant surge in volume. Even with a whale moving over 10,000 ETH to Kraken, buy orders continue to lead the market, indicating that buyers remain in control.
BlockDAG Launch and Market Sentiment
As the June 13 launch date for BlockDAG approaches, the project is set to unveil 20 new listings on centralized exchanges. The price of BlockDAG is locked at $0.0020 during the presale, significantly below its current price of $0.0262. The presale has already gathered over $273 million of its $600 million target, indicating strong interest. This upcoming launch is generating excitement among traders.
AAVE whale activity reflects confidence in its long-term value, Ethereum's trading volume indicates stability, and the BlockDAG launch is generating anticipation among traders. As June 13 approaches, the interest in the project continues to build.
