According to onchain cryptocurrency data, a major investor is selling large amounts of altcoins.
Whale Activity
According to Spot On Chain, a cryptocurrency whale transferred 30,001 Aave (AAVE) tokens worth approximately $5 million to a centralized exchange. The whale made over $12 million in profit from this AAVE position.
Recent Transactions
After a four-month dormancy, the whale wallet returned to the market on March 19, transferring 73,501 AAVE tokens worth $12.51 million to one of the centralized exchanges. At that time, the AAVE price was at an average of $170.13, and it is currently trading around $167.
Remaining Assets
However, the whale did not completely dump its AAVE tokens. Onchain data shows that the crypto whale still holds 37,425 AAVE in their wallet, worth $6.23 million. The total profit amounts to $12.46 million, or 87% from the position.
Thus, the cryptocurrency market has witnessed significant operations by major investors, which may impact Aave's price dynamics in the future.
