AAVE Whale Drops $15M—Is This the Start of a Real Rebound?

A single whale just snapped up $15 million worth of AAVE—sparking chatter about a potential turnaround. But can the token actually cling to the $270 level, or is this just another dead-cat bounce?

Whale moves always grab headlines, but let’s see if the market agrees. After all, in crypto, even ’smart money’ sometimes forgets to check the exit doors.

Source: IntoTheBlock

Besides this whale activity, AAVE whales are highly active in the market with a higher Large Holders Capital Inflows.

A higher inflow from whales indicates increased accumulation.

After dropping to 89k, whale capital inflow ROSE to 224.87k in the past day, suggesting that whales are increasingly buying the altcoin.

Source: IntoTheBlock

Furthermore, large holders’ Netflow remained positive.

Over the past day, Netflow from whales has surged from 1.4k to 26.86k. A positive netflow suggests that whales are buying more than they are selling, having offloaded 198k AAVE tokens over this period.

Source: CryptoQuant

Additionally, this buying spree is not only isolated among whales but across all market participants.

On the exchange level, AAVE has registered three straight days of negative Netflow, implying more withdrawals than deposits.

When this trend persists for a sustained period, it reflects strong bullish sentiments among investors.

Price reaction and outlook

As expected, increased accumulation has positively impacted the altcoin’s price movement. In fact, the token climbed to a daily high of $262 before settling around $260, marking a 1.73% 24-hour gain.

With the altcoin showing signs of recovery from its recent decline, it suggested that increased accumulation can push prices higher.

Therefore, if the market sentiment is witnessed over the past day, we could see the altcoin make more gains. With buyers holding the ground, AAVE will reclaim $270 where it has faced rejection and attempt $284 resistance.

Subsequently, if buyers retake the market, the altcoin could drop to $231 support.