Citing Chainthink, a major AAVE whale sold 230,000 AAVE tokens (worth ~$38 million) early on Dec. 22, triggering a 12% price drop. The whale, holding the second-largest AAVE position, converted all AAVE into WBTC and stETH at an average price of $165, incurring an estimated $13.45 million loss. The move occurred ahead of Aave’s proposal to transfer brand asset control to token holders, set for a Snapshot vote starting at 10:40 AM the next day.
AAVE Plummets 12% Amid Major Whale Sell-Off Before Aave Decentralization Proposal
ChainthinkShare
Summary
Whale movement sent AAVE down 12% after a top holder sold 230,000 tokens (~$38 million) on Dec. 22. The whale, holding the second-largest AAVE position, swapped tokens for WBTC and stETH at $165, losing ~$13.45 million. The sell-off came ahead of Aave’s decentralization proposal, set for a Snapshot vote the next day. Altcoins to watch may include AAVE as governance shifts spark volatility.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.