Whale Accumulation and Aave’s “Umbrella” Upgrade Stir Market as AAVE Tests Technical Support
- Two whales bought ~$7.5M in AAVE with leveraged loans on June 6, per Lookonchain.
- Aave launched “Umbrella,” a new risk-management system to replace its Safety Module.
- AAVE price dropped ~5% to ~$250, testing critical Bollinger Band support near $255.
According to on-chain tracker Lookonchain, two high-profile whales collectively purchased 29,739 AAVE tokens worth approximately $7.5 million on June 6.
One wallet (0x372c) reportedly borrowed $5 million in USDC to pick up 19,608 AAVE. This move brought its total holdings to a staggering 280,673 AAVE, valued at $69.44 million. Meanwhile, another wallet (0xeBb4) borrowed $2.5 million in Aave’s native stablecoin, GHO, to buy 10,131 AAVE. That whale’s total holdings now stand at 120,513 AAVE, worth about $29.8 million.
These large, leveraged purchases, which use loans from decentralized stablecoins, suggest that these institutional-level or highly confident players are positioning themselves for a medium- to long-term bullish run on AAVE. This activity could be in anticipation of positive structural changes within the protocol.
Aave Launches “Umbrella”: A New Risk-Management System
And a major structu…
The post Whale Accumulation and Aave’s “Umbrella” Upgrade Stir Market as AAVE Tests Technical Support appeared first on Coin Edition.
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Whale Accumulation and Aave’s “Umbrella” Upgrade Stir Market as AAVE Tests Technical Support
- Two whales bought ~$7.5M in AAVE with leveraged loans on June 6, per Lookonchain.
- Aave launched “Umbrella,” a new risk-management system to replace its Safety Module.
- AAVE price dropped ~5% to ~$250, testing critical Bollinger Band support near $255.
According to on-chain tracker Lookonchain, two high-profile whales collectively purchased 29,739 AAVE tokens worth approximately $7.5 million on June 6.
One wallet (0x372c) reportedly borrowed $5 million in USDC to pick up 19,608 AAVE. This move brought its total holdings to a staggering 280,673 AAVE, valued at $69.44 million. Meanwhile, another wallet (0xeBb4) borrowed $2.5 million in Aave’s native stablecoin, GHO, to buy 10,131 AAVE. That whale’s total holdings now stand at 120,513 AAVE, worth about $29.8 million.
These large, leveraged purchases, which use loans from decentralized stablecoins, suggest that these institutional-level or highly confident players are positioning themselves for a medium- to long-term bullish run on AAVE. This activity could be in anticipation of positive structural changes within the protocol.
Aave Launches “Umbrella”: A New Risk-Management System
And a major structu…
The post Whale Accumulation and Aave’s “Umbrella” Upgrade Stir Market as AAVE Tests Technical Support appeared first on Coin Edition.
Read More