Fourteen hours ago, on January 6, 2025, a whale with the address 0x97d deposited 19,000 AAVE tokens into Binance, amounting to approximately $6.48 million at the time of transfer (source: @OnchainDataNerd). This action comes after the whale had initially accumulated 39,470 AAVE tokens seven months prior at an average entry price of $82.44 per token. By selling 19,000 AAVE, the whale realized a profit of roughly $3.22 million, calculated from the difference between the current market price and the average entry price (source: @OnchainDataNerd).

The whale's decision to deposit and sell a portion of their AAVE holdings could signal a strategic move to lock in profits amid potential market volatility. At the time of the tweet, the whale still holds 20,470 AAVE, valued at approximately $7.01 million, representing unrealized profits (source: @OnchainDataNerd). This indicates a strong confidence in AAVE's future price appreciation. However, the whale also incurred a loss of about $1.3 million from selling 2,561 MKR tokens, suggesting a diversified approach to their cryptocurrency portfolio (source: @OnchainDataNerd).

From a technical perspective, the AAVE/BTC trading pair showed a volume spike of 2,500 BTC traded in the last 24 hours leading up to the whale's move, which is a 30% increase compared to the average daily volume over the past week (source: @OnchainDataNerd). The Relative Strength Index (RSI) for AAVE was at 68, indicating that the asset was approaching overbought territory, which might have influenced the whale's decision to sell part of their holdings (source: @OnchainDataNerd). Additionally, the on-chain data reveals that the total AAVE supply on exchanges increased by 1.2% in the past 24 hours, potentially adding downward pressure on the price (source: @OnchainDataNerd).