Aave (AAVE) exchange reserves have increased to 2.23 million tokens, up from 2.07 million since the beginning of February, when several large investor groups are reducing their holdings.
Binance now has approximately 1.63 million AAVE, up from 1.57 million during the same period. This trend means that more tokens are being moved to exchanges, which creates concerns about selling pressure in the short term.
Sales by large investors are increasing among various owner groups
This change has caused the reserves to now be above their 90-day moving average, following a downward trend that began in April 2025.
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Data at the wallet level from Santiment shows a broader picture of the distribution. Investors holding between 100,000 and 1 million AAVE reduced their combined holdings from 7.45 million to 6.49 million tokens since the end of February. This means they have sold approximately 960,000 AAVE net.
The group with 10,000–100,000 tokens shows a similar development. This group first accumulated more AAVE towards the end of February but turned and sold after mid-March. The holding decreased by approximately 140,000 AAVE, from 3.74 million to 3.6 million.
Another large group, wallets holding between 1 million and 10 million tokens, increased their holdings from 2.58 million to about 3 million AAVE in March. Since then, this group has maintained their holdings and not bought more.
AAVE reaches the lowest price level since the crash in October.
The weak development on-chain occurs at the same time as several contributors leave Aave, causing investors to be worried. The analyst states that the market sentiment around Aave “right now is quite negative.” Therefore, it suggests that investors are giving up or want to take home remaining profits.
“Aave has recently encountered several structural problems that have caused the protocol to enter a negative spiral and lost the important psychological level of 100 USD in March. Several internal disagreements followed a series of events within the protocol, including when key contributors like BGD Labs and recently Chaos Labs departed,” wrote analyst Darkfost.
At the same time, he says the trend occurs during a period when the market does not support holding altcoins.
According to BeInCrypto Markets data, the AAVE token dropped on April 7 to an intraday low of 85.05 USD. This is the lowest level since the crash in October.
At the time of writing, the altcoin is trading around 95 USD, up about 2% in line with the rest of the cryptocurrency market following the news of a two-week ceasefire between the USA and Iran.
It is still unclear whether the price can maintain the rise or if it will continue downward.
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