Aave (AAVE) Seems to Be Primed for a Significant Price Rally Ahead, Whales Acquire 62 Million Tokens

Aave (AAVE) seems to be in a correction trend over the past week. Amid this correction and market volatility, crypto whales have displayed

Crypto trader Ali Martinez has reported heightened interest from crypto whales in Aave (AAVE) amid a correction trend and market volatility.

According to Martinez's latest findings, whales have massively acquired over 62 million AAVE tokens in the last 72 hours. This interest is highlighted by the outflow of millions of dollars worth of AAVE tokens from exchanges, indicating long-term holders or whales are buying the asset.

This massive acquisition could signal interest and optimism among crypto whales and strategic traders. Such significant purchases aim to decrease selling pressure, hinting at a possible uptrend and indicating the ideal time to buy Aave tokens.

Recently, World Liberty Financial (WLFI), a crypto DeFi project owned by President Trump, made huge acquisitions of AAVE tokens, purchasing over $6 million worth of the asset.

These acquisitions indicate that institutional investors are entering the scene, with WLFI's massive AAVE purchases signaling optimism in the token's long-term growth potential.

AAVE price updates

After witnessing several days of price downsides in the recent past, Aave's market sentiment seems to be turning into a positive mood.

The altcoin appears to be making some recovery, indicating potential bullish movements. Aave's price is currently at $318.54, up 0.2% in the last 24 hours. However, its value has decreased by 3.1% in the last 30 days.

Despite the declines, AAVE is displaying potential indicators of upward momentum. Several factors are contributing to the rising enthusiasm for the token.

Onchain data showed a substantial outflow of millions of dollars worth of AAVE tokens from exchanges. Usually, when massive amounts of tokens are withdrawn from exchanges, it indicates that long-term holders or whales are acquiring the asset, which could create buying pressure and lead to a possible price upsurge.

AAVE's Long/Short Ratio currently stands at 1.14, indicating that more traders are betting on AAVE's price increasing rather than dropping.

In the last 24 hours, AAVE's trading volume went up by 64.60%, further cementing the positive sentiment around the coin.

According to recent data posted by Ali Martinez, AAVE has broken the TD Sequential resistance trendline, which could lead to a massive price rally for the altcoin.

The last time AAVE broke this trendline was in June 2020, and its price surged by 6,400%. If history can repeat itself, then a similar pattern is set to push AAVE's price to $3,500 soon, as projected by Martinez.