On October 13, COINOTAG highlighted significant activity in the **AAVE** market, following revelations from **Lookonchain**. A prominent **whale investor** executed a substantial long position by acquiring **31,173 AAVE**, amounting to approximately **US$4.8 million**. After this strategic purchase, the investor conducted a deposit into the Aave protocol, subsequently borrowing **2.7 million GHO**. This amount was instantly converted into **USDC**. The investment strategy did not end there; the whale further deposited the **USDC** into **Coinbase**, signaling intentions to enhance their AAVE holdings. This transaction not only underscores the liquidity in the **decentralized finance (DeFi)** space but also reflects growing institutional interest in AAVE as a pivotal asset within the crypto ecosystem. Such movements are indicative of broader trends impacting market dynamics and investor sentiment.
Source: https://en.coinotag.com/breakingnews/whale-boosts-aave-holdings-with-4-8-million-purchase-and-strategic-borrowing/