Aave

when

PEPE

Crypto whales are back in action, and this time they’re zeroing in on Aave after it recorded a massive 42% rally in the last 30 days. Whales’ buying spree came in when Aave announced the launch of Aave V3 on Era Mainnet powered by ZKsync.
The daily active Aave addresses went on to hit a high of 1.73k over the last year on August 20. <a href="https://www.cryptopolitan.com/aave-price-prediction/" rel="noopener noreferrer nofollow">Aave’s price</a> has surged by more than 30% over the previous 7 days, depicting whales’ interest in the coin.
<h3 id="span-style-font-weight-400-aave-aave-whales-accumulate-at-lower-prices-span">Aave (AAVE) whales accumulate at lower prices</h3>
As per the <a href="https://x.com/lookonchain/status/1826451034765697119" rel="noopener noreferrer nofollow" target="_blank">data shared</a> by Lookonchain, a whale address “0xa923b” spent 4,000 staked Ether (approx. worth $10.4 million) to buy 77,270 AAVE in just one day. This accumulation happened when Aave was trading at $135.
One whale spent $6.65 million worth of <a href="https://www.cryptopolitan.com/ethereum-20-staked-ether-eth-near-6-million/" rel="noopener noreferrer nofollow">staked Ether</a> to buy 50,908 of Aave. This trade was executed when the coin was trading at $131. However, another whale address “0x0945” used its 563 ETH (approx. worth $1.45 million) to buy 11,101 Aave at the lower price.
The on-chain data tracker reported that on August 20, 2 whales chipped in 31,407 Aave (approx. worth $3.92 million). The whale address “0x3737” used its 813 ETH (approx. worth $2.18 million) to accumulate 17,790 Aave at a price of $123.
Lookonchain data also showed that the same whale “0x3737” holds 3.56 trillion PEPE tokens (approx. worth $28.4 million). It holds PEPE with over a profit of $28 million.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 2 whales bought 31,407 <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$AAVE</a>($3.92M) in the past 4 hours!
 Whale"0x3737" holds 3.56T <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$PEPE</a>($28.4M) with a profit of over $28M on <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$PEPE</a>.
 He spent 813 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$ETH</a>($2.18M) to buy 17,690 <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$AAVE</a> at $123 in the past 4 hours.<a href="https://t.co/zoKrgBuOYu" rel="noopener noreferrer nofollow" target="_blank">https://t.co/zoKrgBuOYu</a>
 Whale"0x1D15" withdrew 13,717 <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$AAVE</a>($1.73M)… <a href="https://t.co/UOnnH9RU88" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/UOnnH9RU88</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1825772027590123561?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">August 20, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The ongoing Aave price action has outperformed the biggest digital assets in the market. It has recorded a jump of 42% in the last 30 days, while Bitcoin and Ether price have slid by 10% and 25%, respectively. Whales using ETH to grab Aave turns out to be the major market mover amid recent price dips.
<h3 id="span-style-font-weight-400-aave-launches-on-era-mainnet-span">Aave launches on Era mainnet</h3>
Aave Labs <a href="https://avara.xyz/blog/aave-launches-on-era-mainnet-powered-by-zksync" rel="noopener noreferrer nofollow" target="_blank">announced</a> that its V3 is debuting on Era Mainnet which Zksync powers. This integration will unlock unparalleled scalability, privacy, and security. Aave now offers blazing-fast transactions without compromising on security.&nbsp;
The announcement highlighted that Chainlink is also part of this integration, providing reliable price feeds to ensure every transaction on Aave V3 is accurate and secure.&nbsp;
Aave jumped by another 4% in the last 24 hours. Its 24-hour trading volume is up by 15% to stand at $388 million, suggesting an increasing interest among the investors. AAVE is trading at an average price of $137.78, at the press time.

Aave whales go on buying spree, Aave gains 30% in 7days

Table of Contents

Cryptopolitan_News

Other articles published on Aug 22, 2024

What is the Recent Paradigm-Funded Reddio Network?

AI drone ‘hellscape’ plan for Taiwan, LLMs too dumb to destroy humanity: AI Eye

UNI Whale Awakens with $10.4M Withdrawal from Coinbase

Crucial Clash at $61K: The Make-or-Break Moment for Bitcoin

FERC Rejects Basin Electric’s Cryptocurrency Mining Rate Proposal, Citing Lack of Justification

Trump Secures 73% Support in Elon Musk’s X Platform Poll

Join our free newsletter for daily crypto updates!