Aave (AAVE) whale acquires 12,037 tokens worth $2.18 million, suggesting a potential market rally

Aave (AAVE) seems to be gaining traction as whales have started accumulating the asset, suggesting a potential market rally soon. Today, Onchain Lens spotted a PEPE whale who acquired AAVE tokens worth $2.07 million.

A large PEPE whale has been spotted adjusting their portfolio, selling a portion of their LDO holdings to acquire a sizable amount of AAVE tokens.

Onchain Lens has identified the whale who sold 2.25 million LDO tokens for WETH and then swapped the funds for 12,037 AAVE at a price of $181.

Initially, the investor bought 3.6 million LDO for 2,234 ETH ($7 million). He currently holds 1.35 million LDO, facing a loss of $3.6 million.

The move by this investor comes as the digital asset market has been experiencing increased volatility due to global economic uncertainty and the Trump-led tariff policy. The performance of altcoins has been moving in tandem with Bitcoin’s price consolidation after the largest cryptocurrency failed to surpass the $88 level.

Aave has been in a correction movement, with its price down 1.1% over the past week. Its asset rose by 1.5% over the past 24 hours, currently placing its value at $178.59.

This decline is part of a wider trend that started early last month, with Aave decreasing its momentum, identified by lower lows and lower highs in trading timeframes. As the market adapts to these conditions, the asset is anticipated to remain stable in the coming weeks due to the increasing presence of buyers.

However, if the asset manages to break through the resistance level at $187.94, it could overturn the bearish sentiment. Conversely, if it loses strength and falls below the support level at $170.80, the downside movement remains in play.