Token Price Rises More Than 16% After AAVE Whale Trades on Binance

Crypto News – A whale removed 70,100 Aave (AAVE) from Binance yesterday, according to a post on X by the on-chain analytics tool Lookonchain.

Token Price Rises More Than 16% After AAVE Whale Trades on Binance

The value of the removed AAVE tokens was approximately $6.9 million. It was also mentioned by Lookonchain that the 8+% increase in AAVE’s price at that time was probably due to whale activity.

The analytics tool revealed earlier today that the whale chose to remove an additional 70,000 AAVE, or $6.93 million, from Binance in another X post. With 140,100 AAVE taken out of Binance thus far, the whale possesses $13.88 million worth of AAVE tokens.

AAVE Price Today Hits As High As $102

AAVE’s price increased by more than 16% in the previous day following the whale’s withdrawals, according to data from CoinMarketCap. As a result, AAVE was trading hands at $102.90, setting a new daily high for the cryptocurrency.

After rising by 12.63% from yesterday, AAVE’s 24-hour trading volume reached around $261,178,610 at the time of writing. Furthermore, AAVE was able to gain 16.49% more strength against Bitcoin (BTC). AAVE’s weekly performance was able to go into positive territory at +25% as a result of the price surge. AAVE’s market capitalization increased to $1,426,426,477 as a result of the token’s price performance.