AAVE Whale Begins Profit-Taking After Accumulating $9.31M In Unrealized Gains

According to Ember CN, a major investor who accumulated 160,710 AAVE at a low of $89 per token during June-August has started to take profits.

Approximately 40 minutes ago, the whale transferred 19,592 AAVE, worth around $3.02 million, to Binance, signaling the start of a potential exit strategy. Currently, the investor still holds 141,118 AAVE valued at $21.78 million, reflecting an unrealized gain of $9.31 million.

一个在 6-8 月以 $89 的价格抄底囤积了 160,710 AAVE 的鲸鱼/机构，开始兑现利润：40 分钟前将 19,592 AAVE ($3.02M) 转进了币安。

他目前还持有 141,118 枚 AAVE ($21.78M)，未实现利润高达 $9.31M。https://t.co/Hg53r2Cp9f

本文由 #Bitget｜@Bitget_zh 赞助 pic.twitter.com/1d4nkg89u7

— 余烬 (@EmberCN) October 29, 2024

This development comes as interest in AAVE, the native token of the Aave platform, continues to grow. Grayscale’s Aave Trust provides investors with exposure to AAVE, which is integral to Aave’s decentralized finance ecosystem. The platform facilitates decentralized borrowing and lending through smart contracts, eliminating the need for traditional intermediaries.

Grayscale Aave Trust gives investors exposure to $AAVE, a digital currency for the @aave platform, which aims to enable decentralized borrowing and lending through smart contracts without intermediaries.

Learn more, see important disclosures or reach out: https://t.co/rDNWEly7rA pic.twitter.com/Ljr3O6hsu3

— Grayscale (@Grayscale) October 28, 2024

AAVE Boasts Over 5% In Total Value Locked

AAVE is currently the dominant player among the top five lending protocols, accounting for over 55% of total value locked (TVL) across the sector. Aave’s TVL stands at more than $13 billion, significantly outpacing its closest competitor, JustLend, which holds a TVL of $4.6 billion.

𝙄𝙣𝙩𝙚𝙧𝙚𝙨𝙩𝙞𝙣𝙜 𝙁𝙖𝙘𝙩𝙨 𝙒𝙞𝙩𝙝 @intotheblock

Among the top 5 lending protocols, AAVE is over 55% doninant by TVL.

For context,

It’s TVL is over $13B

JustLend comes after with $4.6B pic.twitter.com/FLM7ENiveZ

— Mijosh.₿- (R•W•A)💜💜 (@Mijosh_) October 28, 2024

The whale’s recent profit-taking activity underscores the ongoing appeal of AAVE within the DeFi space. As one of the leading platforms in the sector, Aave’s dominance highlights the demand for decentralized borrowing and lending solutions. With AAVE’s strong position in the market and growing institutional interest through vehicles like Grayscale’s Aave Trust, this token remains a focal point for both retail and institutional investors navigating the DeFi landscape.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: itchaznong/123RF // Image Effects by Colorcinch