06:27
Aave encountered a Whale selling pressure of 37.6 million dollars, causing the AAVE price to fall nearly 10% in a single day.
Aave (AAVE) has recently faced significant price pressure. On December 22, a whale sell-off of up to $37.6 million triggered severe fluctuations in the market, causing AAVE to drop rapidly in a short time, with the price temporarily falling to around $161.70, close to the key support range that has been tested multiple times this month.
On-chain data shows that this dumping mainly comes from address 0xa923. The wallet sold approximately 230,350 AAVE in one go and exchanged it for stETH and WBTC, quickly amplifying the selling pressure in the spot market. It is worth noting that despite the huge transaction amount, the address still recorded a loss of about 13.8 million dollars, indicating that this behavior resembles more of a passive stop-loss or liquidity pressure release rather than a planned asset rotation.