Large-scale crypto wallets have recently acquired over $20 million worth of DeFi tokens AAVE and UNI through OTC deals.

Research analysts suggest the token purchases indicate starting interest among markets that could lead to elevated prices for AAVE and UNI.

Several large-scale crypto wallets recently acquired over $20 million worth of DeFi tokens AAVE and UNI from over-the-counter (OTC) dealers.

According to data from blockchain analytics firm SpotOnChain, two new wallets obtained 115,719 AAVE valued at $15.83 million and 818,474 UNI at a price of $4.28 million from Cumberland.

The large-scale buying activity comes amid market uncertainty. However, the lack of correlation with broader trends and the significant volume suggest an underlying faith in these leading DeFi assets.

The token purchases could indicate starting interest among markets that might lead to more buying pressure and elevated prices for AAVE and UNI in the near future.

AAVE Price Uptick Meets Ecosystem Upgrade As Two Wallets Accumulate 115k AAVE Tokens

Two crypto whale wallets collectively accumulated 115,719 AAVE, valued at $15,830,043 at the time of writing, through an OTC deal with Cumberland.

One of the wallets, with the address 0x3bb.., is known for its prior involvement in UNI’s acquisition and also participated in AAVE’s purchase, showcasing interest in DeFi assets. The timing coincides with AAVE rebounding from its recent 24-hour low of $130.43.

AAVE traded at $138.81 at press time, showing an approximate 3.5% increase over the past day. The market reacted positively to the large volume acquisitions with this price rise which occurred after the accumulation began.

The market demands could sustain the current price uptrend if they remain active in the near future.

In March, the AAVE community proposed a buyback and liquidity upgrade to support long-term price stability. An upcoming whale investment demonstrates public support for the proposed upgrade of the protocol which shows market approval of the modifications.

Analysts believe the combined factors might build stronger fundamentals for AAVE in the coming weeks.

UNI Sees Whale Attention As Price Climbs Post OTC Deal

Through a quiet OTC deal with Cumberland the address “0x3bb..” received 4,280,418 UNI valued at $4.28 million.

The transfer of funds to 0x3bb.. occurred during when defi markets were mostly stagnant yet showcased strengthening UNI traction.

The price recovery of UNI started after its short-term market decline.

The market value of the token reached $5.27 when it demonstrated a 2.5% increase during the past day. The price of the token pushed back to reach the lowest point at $5.05 then started recovering from there.

Website data showed a progressive upward trend that resulted from concentrated buying activity by prominent holders of UNI.

The growing interest shown by whales in UNI suggests favorable market and utility expectations for its upcoming performance. Targeted purchasing of this asset at present might spark fresh market demand.