Aave whales go on buying spree, Aave gains 30% in 7days

Crypto whales are back in action, and this time they’re zeroing in on Aave after it recorded a massive 42% rally in the last 30 days. Whales’ buying spree came in when Aave announced the launch of Aave V3 on Era Mainnet powered by ZKsync.

The daily active Aave addresses went on to hit a high of 1.73k over the last year on August 20. Aave’s price has surged by more than 30% over the previous 7 days, depicting whales’ interest in the coin.

Aave (AAVE) whales accumulate at lower prices

As per the data shared by Lookonchain, a whale address “0xa923b” spent 4,000 staked Ether (approx. worth $10.4 million) to buy 77,270 AAVE in just one day. This accumulation happened when Aave was trading at $135.

One whale spent $6.65 million worth of staked Ether to buy 50,908 of Aave. This trade was executed when the coin was trading at $131. However, another whale address “0x0945” used its 563 ETH (approx. worth $1.45 million) to buy 11,101 Aave at the lower price.

The on-chain data tracker reported that on August 20, 2 whales chipped in 31,407 Aave (approx. worth $3.92 million). The whale address “0x3737” used its 813 ETH (approx. worth $2.18 million) to accumulate 17,790 Aave at a price of $123.

Lookonchain data also showed that the same whale “0x3737” holds 3.56 trillion PEPE tokens (approx. worth $28.4 million). It holds PEPE with over a profit of $28 million.

2 whales bought 31,407 $AAVE($3.92M) in the past 4 hours!

Whale"0x3737" holds 3.56T $PEPE($28.4M) with a profit of over $28M on $PEPE.

He spent 813 $ETH($2.18M) to buy 17,690 $AAVE at $123 in the past 4 hours.https://t.co/zoKrgBuOYu

Whale"0x1D15" withdrew 13,717 $AAVE($1.73M)… pic.twitter.com/UOnnH9RU88

— Lookonchain (@lookonchain) August 20, 2024

The ongoing Aave price action has outperformed the biggest digital assets in the market. It has recorded a jump of 42% in the last 30 days, while Bitcoin and Ether price have slid by 10% and 25%, respectively. Whales using ETH to grab Aave turns out to be the major market mover amid recent price dips.

Aave launches on Era mainnet

Aave Labs announced that its V3 is debuting on Era Mainnet which Zksync powers. This integration will unlock unparalleled scalability, privacy, and security. Aave now offers blazing-fast transactions without compromising on security. 

The announcement highlighted that Chainlink is also part of this integration, providing reliable price feeds to ensure every transaction on Aave V3 is accurate and secure. 

Aave jumped by another 4% in the last 24 hours. Its 24-hour trading volume is up by 15% to stand at $388 million, suggesting an increasing interest among the investors. AAVE is trading at an average price of $137.78, at the press time.