DeFi Whale Buys $13 Million AAVE Tokens, Price Rallies 35%

DeFi cryptocurrency AAVE has managed to record a 35% surge as the overall market consolidates. The asset increased from its daily low of $56.95 to $76.9 in just under 12 hours. This impressive rally is largely attributed to significant accumulation by a high-profile investor, known as a ‘whale.’

Information gathered from on-chain trackers shows that whales have amassed 94,770 AAVE over the last four days, shelling out a total of $25 million at a not-so-whale-average price of $263.80. In recent transactions, 16,818 AAVE were acquired, signaling strong bullish sentiment.

Data from cryptocurrency exchanges confirms that a DeFi whale has been scooping up AAVE tokens, contributing to the increased buying pressure. Crypto whales injected $12M into AAVE after a 40% price surge, driving further buying pressure on the token. The Open Interest supports the price rally as the token.

The catalyst for this recent price jump is believed to be the substantial $13 million AAVE purchase by this whale. From its daily low of $56.95, DeFi cryptocurrency AAVE has managed to record a 35% surge as the overall market consolidates. With almost the entire market consolidating, DeFi token AAVE managed to pull off a 35% rally a day back.

This surge highlights the continued interest in AAVE and the potential impact of large investors on the DeFi market. Keep an eye on further developments as the whale's activity continues to influence the AAVE price trajectory.