The expected recovery never occurred in altcoins, which accompanied the Bitcoin declines and each time fell more than BTC.

While altcoin investors continued to give up one by one at the buy point, a giant AAVE whale also gave up and sold at a loss.

According to Lookonchain’s post, the giant whale, which had been holding AAVE for about 3.5 years, gave up in the last drop and lost $2.14 million.

“Early AAVE whale sold all 17,447 AAVE shares (for $2.16M) 3 hours ago, losing $2.14M!

This whale purchased 17,447 AAVE ($4.3 million) from Binance at an average price of $246 between March 28, 2021 and June 12, 2023.”

One Sold, the Other Bought!

While this whale is selling AAVE at a loss, another whale continues to frantically accumulate AAVE.

According to Lookonchain’s post, a whale bought AAVE again. Accordingly, the whale bought 50,604 AAVE worth $6.78 million, while the whale has 125,605 AAVE (worth $16.9 million) with an average purchase price of $134.6.

AAVE, which has fallen 1.2% in the last 24 hours, continues to trade at $129.7 at the time of writing.

This whale bought 50,604 $AAVE($6.78M) again 20 mins ago and currently holds 125,605 $AAVE($16.9M) with an average buying price of $134.6.https://t.co/Cn5oNqLdqAhttps://t.co/jjJN59HBqF pic.twitter.com/fGPLn8uANu

— Lookonchain (@lookonchain) September 4, 2024

*This is not investment advice.