The reserve amount of Aave (AAVE) on the exchange has increased to $2.23 million, up from $2.07 million since early February, as several whale groups gradually reduced their holdings.
Currently, Binance holds approximately $1.63 million in AAVE, an increase from $1.57 million during the same period. This trend reflects that the number of coins moving onto the exchange is increasing, causing concerns about potential short-term selling pressure.
The distribution of whales has accelerated among holders in each range.
Importantly, this change has pushed the reserve volume back above the 90-day moving average, ending a downward trend that had persisted since April 2025.
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Meanwhile, wallet-level data from Santiment reflected the overall distribution, with whales holding between 100,000 and 1 million AAVE reducing their overall holdings from 7.45 million coins to 6.49 million coins since late February, indicating a net sell-off of about 960,000 AAVE.
The group holding 10,000–100,000 coins shows a similar trend, as even though this group accumulated more coins in late February, the trend reversed in mid-March when holders gradually sold approximately 140,000 AAVE, reducing the total holdings from 3.74 million to 3.6 million coins.
Meanwhile, another large holding group, which has between 1 million to 10 million coins in their wallets, saw their holdings increase from 2.58 million coins to about 3 million AAVE by March. However, this group has not shown significant signs of further accumulation recently.
AAVE hit its lowest price since the crash in October.
The weakness on this blockchain coincided with the resignation of contributors that led to shaken investor confidence. Analysts noted that market sentiment regarding Aave is currently quite negative, thus many investors are either giving up or locking in the remaining profits.
Recently, Aave faced several structural challenges, causing the protocol to enter a negative cycle and lose the significant psychological level at a price of USD 100 in March, followed by internal conflicts and various events, including the departure of key contributors such as BGD Labs and most recently Chaos Labs, analyst Darkfost stated.
However, he emphasized that this trend occurred amid a market atmosphere that does not support holding altcoin coins.
According to BeInCrypto Markets on April 7, the AAVE token fell to a low of USD 85.05 during the day, which is the lowest point since the crash in October.
As this report is being published, the altcoin is trading near USD 95, which is up about 2% alongside the overall crypto market after a two-week ceasefire news between the United States and Iran.
However, it remains to be seen whether this rebound will persist or if a new low will follow.
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