Aave

2024

DeFi

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Aave’s price saw a surge of over 12% amid heightened whale activity and a broader jump in the global crypto market. 
At the time of writing, Aave (<a href="https://crypto.news/price/aave/" target="_blank" rel="noreferrer noopener">AAVE</a>) has become the 47th largest cryptocurrency, with its market cap exceeding $1.89 trillion as its price soared 12.4% on Aug. 20, trading at $126.9, according to data from crypto.news. 
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 AAVE 24-hour price chart – Aug. 20 | Source: <a href="https://crypto.news/price/aave/" target="_blank" rel="noreferrer noopener">crypto.news</a>
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Despite this rise, the cryptocurrency remains down 80.8% from its all-time high of $661.6, while its daily trading volume is staying at $392 million. 
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 2 whales bought 31,407 <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$AAVE</a>($3.92M) in the past 4 hours! Whale"0x3737" holds 3.56T <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$PEPE</a>($28.4M) with a profit of over $28M on <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$PEPE</a>. He spent 813 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$ETH</a>($2.18M) to buy 17,690 <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$AAVE</a> at $123 in the past 4 hours.<a href="https://t.co/zoKrgBuOYu" target="_blank" rel="">https://t.co/zoKrgBuOYu</a> Whale"0x1D15" withdrew 13,717 <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$AAVE</a>($1.73M)… <a href="https://t.co/UOnnH9RU88" target="_blank" rel="">pic.twitter.com/UOnnH9RU88</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1825772027590123561?ref_src=twsrc%5Etfw" target="_blank" rel="">August 20, 2024</a>
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Meanwhile, blockchain analytics firm Lookonchain <a href="https://x.com/lookonchain/status/1825772027590123561" target="_blank" rel="">revealed</a> that whales had significantly increased their holdings of Aave within just a three-hour window. According to their data, these large-scale investors acquired a total of 31,407 AAVE, valued at approximately $3.92 million. 
In one instance, the whale address 0x3737 spent 813 ETH, equivalent to $2.18 million, to purchase 17,690 AAVE at a price of $123 per token. Another whale, identified by the address 0x1D15, withdrew 13,717 AAVE worth about $1.73 million from <a href="https://crypto.news/tag/binance/" target="_blank" rel="noreferrer noopener">Binance</a>. As of press time, that whale holds a total of 19,373 AAVE, valued at $2.45 million. 
 You might also like: <a href="https://crypto.news/aave-price-chart-is-one-of-the-most-promising-crypto-analyst-says/"> AAVE price chart is ‘one of the most promising,’ crypto analyst says </a> 
<h2 class="wp-block-heading" id="whale-activity-around-aave-surges-as-defi-shows-signs-of-maturation">Whale activity around Aave surges as DeFi shows signs of maturation</h2> 
The latest <a href="https://crypto.news/aave-rallies-10-amid-surging-whale-activity/" target="_blank" rel="noreferrer noopener">surge in whale activity</a> coincides with a broader recovery in the DeFi sector, as indicated by Edward Wilson, Head of Marketing at Nansen Analytics. 
In a statement to crypto.news, Wilson outlined a pivotal shift in the crypto market from the frenzy of speculative meme coins towards more fundamentally strong <a href="https://crypto.news/tag/defi/" target="_blank" rel="noreferrer noopener">DeFi</a> projects. This trend, Wilson suggests, signifies a maturation within the market that favors sustainable growth over fleeting excitement. 
Moreover, Nansen Analytics has tracked a substantial increase in Aave holdings by seasoned investors, amounting to around $5 million since early August, with this growing confidence seemingly supported by technical patterns on Aave’s price chart. 
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 “The developing Adam &amp; Eve bottom pattern suggests a strong potential for further upward momentum, which aligns with the market’s renewed focus on strong fundamentals.” 
 Edward Wilson 
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Earlier in July, Aave’s price had already seen an 8% boost following a <a href="https://u24517827.ct.sendgrid.net/ls/click?upn=u001.PFWtwpR3WGGRVfJM1hnZFD-2BrOZyUshTiwo5j9XwRVSsCsXjghnCXIfCB9QJ2RGxjfSYDokC5MrWe5agckXgqCZDw8qRwzGretgztwovy471YDw-2BV36kStHZdSW-2FnCFC2DS36536f5qvqDkp7NLsnX9kDZ6KcW6NAl0EbK1MXl9zMh0GieagL9SFSRn4ToID5zsdT_s8BUiO1ZTfus-2F6WvS42hzaDcZHlxPMpjV1dBT32YHwSK-2BSJj30FIDtkLzuZiN0ehA8E8LvSMPscwelM5nXNP-2BOfa2otqQf1B58O0k2kCce5oJyuf836phB23-2BoOCGb63ohbQ3FQgNZY-2BopqjimnmTUSLqnRqKdZPEiRJgY0chw6yrZwTdGWcf-2Ba1ASFG4bWV-2BxaEBAMyetsmBgJdvERewNTCdgM62YfmDTcEC0i8rshbhCnRr5PwpFyX1x7uWfs6BBdBaJjO9eqpVXZ5Nc69P9u9aRuy4-2Fe9-2BozPWWIwqhwNptVP13ibchB7Rez0X-2F1M35oTOYX-2BPrutunsMeyr9IRQZSoASmGFsMXpO99XZRgThFHZGLINTX3-2Bhdothw-2BRmDZI9IcPmOpnmGjqNVjxZF1e7-2F8fpNFQWgBNdlB-2Fng0BW4B6iy9FDLErZn-2BCHGGDb6YGfBCIF2YPVRMSh8vBy3mjOCjBmZtHavyxkGG8bxAPZFXoJzWuMLaodGpdLB-2F0ISHh4DiMxssdgdokg9-2Bw-2FbZTTw-2Fi-2FrzvZRTCStc3UuJYDCwCF3E4gZLhbPW0KYUV7R76ZXDBx3rgSCH8tgxpqxLYa4qgTnhMziNmryZbxFmw3gcScqPgdjYqXRV3rwcWJRrLvqhR1bgm9oy5nzxpwK8jeUGwBlWLGZ3LjfgaOGXU0yYhqk4mJqAB2ZEIdiuhftCIOotv3hw6IrY8cUlWPQcRirR3HL9DI08YjZD2KTwnIt9mdTBGd7XSCY-2Byqert8MSL6EZ-2FJ8ev0u8fLQbkVcwy1UOadt5aKbhatXGUyUwAbVif8DANb2k4JKmAPE4neLebJCFvpbIPK5gR9ZLqZWUCCfVKef1ipNQ1i9IEhsoBgQgTij39dBcXmnydk8G8oIr0axFJ8S8SwDBr7UFC5cO3aqOb6Xtz0d8CBDoLd-2FS-2BN0hSO-2FPjuhoOfOdiRGQmqSt3B5hHAZQQg2QTd3-2Ftqww-3D-3D" target="_blank" rel="">proposal</a> by founder Marc Zeller to implement a token buyback program, further fueling optimism about the token’s future. 
 Read more: <a href="https://crypto.news/defi-protocol-aave-launches-major-update-with-v4-protocol/"> DeFi protocol Aave launches major update with V4 protocol </a>

Aave price rallies 12% amid surging whale activity

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