Whale Bets Big on ETH, Acquiring 11,486 Tokens Amidst Rising AAVE Profits

On November 7th, COINOTAG News highlighted a significant transaction in the crypto market, with data from ChainNews revealing that a notable whale or institutional investor has made a strategic move in Ethereum (ETH). This entity borrowed 33 million USDC from Aave within the past hour to acquire 11,486 ETH at an average price of $2,873. The same investor had previously purchased 125,600 AAVE tokens at an average rate of $127 in late August, totaling an investment of approximately $23.94 million. With the current market conditions, these AAVE holdings have yielded an impressive unrealized profit of approximately $7.2 million, reflecting a notable gain of 45%. This transaction underscores the ongoing confidence in Ethereum’s growth prospects within the digital asset landscape.