๐๐ก๐๐ฅ๐ ๐๐ฅ๐๐ซ๐ญ: $๐๐๐ ๐๐๐๐ ๐๐ฎ๐ฒ ๐ญ๐จ๐๐๐ฒ ๐ญ๐ก๐ซ๐ฎ ๐๐ข๐ง๐ญ๐๐ซ๐ฆ๐ฎ๐ญ๐ โ $๐๐.๐๐ ๐๐ซ๐จ๐๐ข๐ญ ๐๐จ ๐ ๐๐ซ!
โ๏ธ On May 24, on-chain analyst Ember flagged a major move: a whale or institution just purchased $15 million worth of AAVE through Wintermute OTC. This comes one day after they offloaded 184.4 WBTC ($20.4M) via the same market maker.
โ๏ธ The whale transferred 15M USDC to Wintermute and received 57,715 AAVE in return โ placing the buy-in price at $259.9 per token.
โ๏ธ This whale isnโt new to AAVE. They've been accumulating AAVE since March 2023, having now spent $30.8 million in total to scoop up 224,010 AAVE tokens.
โก๏ธ Their average cost basis is $137.5, and with AAVE currently trading higher, they're sitting on an impressive unrealized profit of $26.32 million.
Why It Matters: This sustained accumulation hints at strong long-term conviction in AAVE from high-net-worth entities โ and could be a bullish signal for the broader market.
Do you think AAVE is headed to $300 next?
