Whale Activity: Significant AAVE Purchase Follows WBTC Sale

A large-scale investor or institution is generating buzz in the cryptocurrency market after a substantial trade involving both AAVE and WBTC. Yu Jin, on-chain data analyst, revealed that this entity recently sold 184.4 WBTC, worth approximately $20.4 million, through Wintermute OTC. Following this sale, the investor executed a significant purchase of $15 million in AAVE tokens. The transaction involved transferring $15 million in USDC to Wintermute, resulting in the acquisition of 57,715 AAVE tokens at a price of $259.9 per token. Notably, this entity has been accumulating AAVE since March 2023, spending a total of $30.8 million to amass 224,010 AAVE tokens at an average price of $137.5. This strategic accumulation has yielded an unrealized profit of $26.32 million.