According to a new analysis by the cryptocurrency onchain monitoring service Lookonchain, cryptocurrency whales have significantly increased their focus on some altcoins in recent days.
According to data, giant whales have accumulated $6.47 million from the Aave (AAVE) token in the last two days.
Explaining some of the most prominent whales, the company pointed out that the whale with the address 0x9af4 collected 11,185 AAVE tokens worth $ 1.23 million on the cryptocurrency exchange Binance 3 hours ago.
On the other hand, the whale with the short address 0x790c withdrew 21,619 AAVE tokens worth $2.38 million via Binance 14 hours ago and transferred all of them to the Aave platform. On this platform, users can earn a certain amount of return by providing liquidity.
Finally, the giant cryptocurrency whale with the short address 0xd7c5 withdrew 26,044 AAVE tokens worth $2.83 million to his cold wallet via Binance 30 hours ago.
Interestingly, AAVE has diverged positively from the cryptocurrency market, gaining 7% in the last 24 hours. At the time of this writing, it is trading at $110.41.
*This is not investment advice.