Whale Activity: $15 Million AAVE Purchase Follows $20.4 Million WBTC Sale

COINOTAG News, May 24th — In a noteworthy transaction, prominent crypto analyst Yu Jin has identified significant market movements involving a major institutional player. Recently, this entity liquidated 184.4 WBTC, equivalent to approximately $20.4 million, via Wintermute OTC. Following this sell-off, the same player reinvested $15 million into AAVE, executing the purchase also through Wintermute. The transaction involved the transfer of $15 million USDC to Wintermute, yielding 57,715 AAVE at an average acquisition cost of $259.9 per token. Notably, this institutional investor has been strategically accumulating AAVE since March 2023, with a cumulative expenditure of $30.8 million to amass 224,010 AAVE, resulting in an average entry price of $137.5. Presently, the total unrealized profit from this investment stands at approximately $26.32 million.