Aave Price Falls Over 10% Despite Broader Crypto Market Recovery
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Aave (AAVE) fell over 10% in 24 hours, contrary to the broader crypto market recovery. A significant wallet sold 230,350 AAVE for $37.8 million, putting downward pressure on the token. Another wallet holds 9,629 AAVE with an unrealized loss of $4.15M.
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- Aave fell over 10% in 24 hours while most major cryptocurrencies traded higher.
- A large wallet sold 230,350 AAVE at a loss, triggering sharp selling pressure.
- OxDDC4 wallet bought 9,629 AAVE and has an unrealized loss of $4.15M.
The broader cryptocurrency market showed early signs of recovery, with Bitcoin and most of the top 10 digital assets trading slightly higher as investors attempted to recoup recent losses.
Aave (AAVE), however, moved sharply in the opposite direction. It fell more than 10% in the past 24 hours, making it one of the worst-performing major tokens during the session. The token is currently trading around $155.
Whale Sale Triggers Sharp Decline
On-chain data shows that a large holder, identified as wallet 0xa923, sold 230,350 AAVE, worth roughly $37.8 million, over the past four hours.
The tokens were exchanged for 5,869 stETH valued a…
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