Santiment team believes that AAVE is showing an early sign of potential profit-taking
Recently shared analytics data shows that AAVE whales have taken an active part in the process that led to the emergence of an early sign of potential profit taking.
Whales may impact continuation of rally
In a recent tweet, Santiment on-chain data aggregator reminded readers that over the past nine days, the trending AAVE coin has reached a 12% price rise and shows 48% growth in returns.
Whale transactions will be a major element to help the coin’s rally continue. Earlier today, the tweet says, seven AAVE transactions worth $1 million each were conducted. This is an early sign of potential profit-taking on AAVE, Santiment analytics team believes.
🐳 $AAVE has enjoyed another +12% surge with an impressive +48% return in 9 days. The amount of whale moves will play a large part in whether the rally can continue. 7 $1M+ transactions were made today, indicating an early sign of potential profit taking. https://t.co/M6PNGud7i8 pic.twitter.com/Jmj6J9dWLe
— Santiment (@santimentfeed) March 24, 2022
Whales and sharks accumulate AAVE en masse
As covered by U.Today earlier this month, sharks and whales had accumulated a comprised 70,000 AAVE over the previous two months. That was the equivalent of a staggering $10.7 million.
ETH whales acquire FTM, APE and SAND
WhaleStats crypto tracking service has reported that over the past six hours, Ethereum whales have also been adding FTM, ApeCoin and SAND to their crypto holdings.
They acquired 1,200,000 SAND worth $4,068,000, 971,727 FTX Tokens (in the equivalent of $1,272,963). One whale has also purchased 149,998 of the trending ApeCoin, paying $1,988,974 at the current exchange rate for this amount of crypto.
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