Aave founder dumps $6.6M AAVE amid price surge

News

The native crypto of decentralized finance protocol, Aave turns out to be one of the biggest gainers over the last 30 days while the other top cryptos were dealing with the selling pressure. However, Aave’s founder has been caught on-chain selling parts of his holdings amid the fresh surge.

Aave price recorded a jump of a massive 66% in the last 30 days while the biggest cryptos like Bitcoin (BTC) and Solana (SOL) have seen gains of 11% and 12%, respectively. Aave V3 recently debuted on Era Mainnet which is powered by ZKsync.

Aave founder cashes out $6.67M

As per the data shared by Lookonchain, Stani Kulechov, the founder of Aave is selling portions of his holdings. He has sold 55,596 AAVE (approx. worth $6.67 million) since February 26. After this intense sell-off, Kulechov still holds more than 243K AAVE (approx. worth $32.7 million) in his wallet.

Aave traded around $100 on February 26 and has gained over 33% since then. Its price surged by another 6% in the last 24 hours to portray bullish sentiments among investors. Aave is trading at an average price of $133.51 with a trading volume of $494 million.

Aave V3 recently debuted on Era Mainnet, powered by ZKsync which allowed it to scale more with privacy and security. It is expecting to increase its DeFi user base with institutional use cases.

Crypto whales scooping Aave

Data shows that multiple crypto whales have also made their moves in the ongoing upward run for the decentralized finance protocol. Two whales bought 9,129 Aave (approx. worth $1.2 million) and 7,462 Aave (approx. worth $1 million), respectively, on September 5.

Lookonchain posted that a mega whale scooped 50,604 (approx. worth $6.7 million) in a single transaction. The same whale spent 4,000 staked Ether (approx. worth $10.4 million) in order to buy 77,270 Aave around August 22. The token was trading at around $135 at the time of the transaction being made. The whale now holds 125,605 Aave (approx. worth $17 million) with an average buying price of $134.6.

An early Aave holder also moved ahead to sell all of his holdings of 17,447 Aave (approx. worth $2.16 million). It booked a loss of $2.14 million over its decision to sell.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed

Leave a Reply