Aave [old]

<p>In the past 24 hours, three large altcoin holders have withdrawn 67,197 AAVE tokens, valued at $9.02 million, from Binance, as reported by <a href="https://blockchainreporter.net/glossary/on-chain/" rel="noopener noreferrer nofollow">on-chain</a> monitoring platform Lookonchain. Among them, two whales, whose addresses are 0x3f9 and 0x64c, most likely belonging to the same person, withdrew 16,592 AAVE tokens that are equivalent to 2.22 million US dollars a few hours ago.</p><h2 id="header-0">Altcoin Whale Adds 50K AAVE Tokens as Value Rises to $143</h2><p>Earlier today, another big whale using a multisignature wallet 0xa92 withdrew 50,605 AAVE tokens worth $6.8 million. The entity now owns a total of 125,605 AAVE tokens which has an estimate value of about $16.7 million.</p><p>The last few days’ whales’ movements around AAVE tokens have been followed with an eye on its token and the new economic architecture it put forward. In the period from July 27th to September 1st, the price of AAVE has raised from $90 to $143 which shows an increase in value. This price increase has ranked AAVE among some of the best-performing DeFi tokens in the last few months.</p><h3 id="aave-whale-activity-signals-confidence-raises-liquidity-questions">AAVE Whale Activity Signals Confidence, Raises Liquidity Questions</h3><p>Their massive amounts of AAVE tokens movements may be interpreted as a sign of their rising interest and confidence in the token. On the other hand, their actions may result to questions over the token’s liquidity. If more large holders sell or reduce their ownership stakes, this may impact the number of tokens in the market.</p><p>The current altcoin whale activity, highlighted by <a href="https://lookonchain.com/" rel="noopener noreferrer nofollow">Lookonchain</a>, shows the increase in demand for AAVE and what it means to liquidity particularly given the rising prices in the token.</p>

Altcoin Whales Withdraw $9M in $AAVE from Binance Amid Rising Token Demand

Table of Contents

BlockchainReporter

Other articles published on Sep 5, 2024

BREAKING: Coinbase Adds a New Altcoin to Its Roadmap to List

Vitalik Buterin Initiates Another Suspicious 2.1 Million STRK Unlock

Monochrome Applies to List Ethereum ETF on Cboe Australia

Cardano’s Latest Upgrade: What is Chang Hard Fork?

Polygon’s MATIC to POL Upgrade: Is a New Era of Blockchain Unfolding?

Analysts Offer Divergent Bitcoin Forecasts

Join our free newsletter for daily crypto updates!