- Whale sold 19,001 AAVE tokens worth $6.5 million.
- AAVE is down 1.71% in the last 24 hours.
For the past two days, AAVE It fell from a high of $361 to $335. The decline comes as large holders turn to profit-taking to maximize the pump effect in the new year.
According to SpotOnChain, Whale sold 19,001 Aave tokens worth $6.5 million through Binance. Through this sale, the whale earned a whopping $4.93 million in profit.
This sale is the first since Whale began accumulating altcoins in 2024. Whale withdrew 89,109 tokens worth $7.36 million last June. Even after the latest deposit, the whale still holds 70,108 AAVE tokens worth $23.65 million.
When whales start selling, it shows either a lack of confidence in the market or an attempt to maximize profits after rising prices.
This selling activity runs the risk of creating selling pressure as investors typically view selling as bearish sentiment, which could lead to weaker selling.
Does this affect the price chart?
As expected, increased selling activity hurt AAVE’s price chart. In fact, at the time of writing, AAVE was trading at $339.
This represents a 1.71% decline on the daily chart. Prior to the downturn, the altcoin was on a monthly upward trajectory of 19.34%.
Altcoin prices have fallen off the charts as whales have started selling, but it seems like all market participants are expecting a bearish turn and prices to fall.
This is evidenced by the bearish intersection of the Relative Strength Index (RSI) over the past 24 hours. This confirms that the seller has entered the market and is still dominant.
Additionally, CMF (Chaikin Money Flow) was negative at -0.02, confirming strong selling pressure.
Looking more closely, this weakness can be seen in the decline in on-chain outflows. According to IntoTheBlock, leaks decreased from 59.22k to 33.19k.
This shows that more investors are still storing their AAVE tokens on exchanges.
This phenomenon is further evidenced by the net flow increase, which jumps from -22.02k to 4.57k. This shows that more investors are transferring their tokens to exchanges than are accumulating. This trend suggests that investors are bearish and expect prices to fall.
Finally, AAVE’s NVT to volume ratio spiked to extreme levels (323) associated with a potential market correction. This increase indicates that the network’s active users have decreased relative to its market capitalization.
High NVT rates often precede market corrections because historically there has been a disconnect between prices and market fundamentals.
Read Aave (AAVE) price prediction for 2025-2026
In conclusion, whale selling is associated with increased selling pressure, albeit short-term, and is not an isolated case as investor sentiment has turned negative.
If these market conditions continue, AAVE could fall to $324. If buyers re-enter the market, the reversal could allow the altcoin to recoup $354.