Large accumulation of AAVE "smart money" amid market fluctuations
A large holder of AAVE, previously liquidated during the market crash on October 11, resumed accumulation of AAVE through leveraged loans on November 24. The address of this holder now contains 333,000 AAVE, valued at approximately $62.6 million, with an average purchase price of $167 per token. At the same time, Multicoin Capital is buying AAVE through Galaxy Digital OTC, accumulating 338,000 AAVE for about $65.3 million. These strategic acquisitions indicate a potential structural interest in purchasing AAVE — a leading lending protocol on the blockchain, which dominates the DeFi lending market with 87% of the lending revenue based on Ethereum. Analysts note Aave's financial structure, including revenue predictability and token buybacks, indicating that the protocol is entering a mature phase with sustainable long-term investment potential.
