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Watch Out for AAVE Coin and These 2: Whale Buys and Longs!

AAVE Coin ve Bu 2'sine Dikkat: Balinalar Alıp 'Long' Açıyor!
AAVE Coin ve Bu 2'sine Dikkat: Balinalar Alıp 'Long' Açıyor!
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Major players in the cryptocurrency markets continue to attract attention with their large transactions that can affect prices. Recently, an anonymous crypto whale has come to the fore with large-scale purchases and investments, especially in decentralized finance (DeFi) tokens. This whale recently attracted attention by withdrawing large amounts of UNI, AAVE coins and MKR tokens from various exchanges.

Whales are withdrawing AAVE coins, UNI and MKR

According to blockchain analysis platform Lookonchain, this whale has withdrawn 299,133 UNI tokens from the Gate.io exchange. This amount is worth approximately $2.39 million. This transaction is interpreted as an indicator of trust in the Uniswap protocol in particular. Uniswap is a decentralized exchange that operates on the Ethereum network. The UNI token also serves as the governance token of this platform.

The increasing interest in DeFi tokens such as AAVE coin has been increasingly prominent recently, especially because decentralized platforms offer services independent of the traditional financial world. The accumulation of these tokens by a whale causes speculation among market participants. Such moves, especially by large investors, are critical. Because they can give clues about the future price movements of the tokens.

19,373 AAVE and MKR withdrew from Binance

The same whale also withdrew a significant amount of AAVE and MKR from the Binance exchange. It was reported that a total of 19,373 AAVE tokens (approximately $2.95 million) and 596 MKR tokens ($805 thousand) were withdrawn between August 13 and September 12. AAVE is the governance token of the decentralized lending platform Aave and is actively used on the platform. The whale’s accumulation of this amount of AAVE coins is remarkable. It is considered to be an indicator of trust in the platform.

Hafta Sonu, O Altcoin İçin Dikkat: İşte Olacakların Bir Listesi

Maker (MKR) is the governance token of the decentralized stablecoin DAI. It also plays an important role in the DeFi ecosystem. The fact that the whale accumulates such a variety of valuable tokens indicates an important strategy in the DeFi world. Such movements by large investors usually attract the attention of market players. Moreover, they cause potential future price fluctuations.

The investment strategy in AAVE attracted attention

The whale in question not only accumulated tokens, but also carried out large-scale financial transactions on the Aave platform. According to Lookonchain, the whale recently purchased 31,173 AAVE tokens (approximately $4.8 million). This transaction indicates that the whale took a long position on the AAVE coin.

After purchasing such a large amount, the whale borrowed $2.7 million worth of GHO on the Aave platform and converted this debt into the USDC stablecoin. He then deposited the USDC into the Coinbase exchange and bought AAVE coins again. This strategy shows the whale’s belief in the future value of AAVE. In particular, borrowing GHO and converting it to USDC increases the whale’s liquidity. Thus, it seems to have allowed him to accumulate more AAVE.

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Watch Out for AAVE Coin and These 2: Whale Buys and Longs!
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