Time to Buy Maker and Aave? Crypto Whale Withdraws $1.75 Million MKR and $563,000 AAVE from Binance
The post Time to Buy Maker and Aave? Crypto Whale Withdraws $1.75 Million MKR and $563,000 AAVE from Binance appeared on BitcoinEthereumNews.com.
The latest on-chain analysis shows that MKR and AAVE are attracting impressive attention from cryptocurrency investors. Data from Lookonchain spotted a whale who accumulated significant amounts of Maker and Aave tokens from Binance today. Whale buys Maker and Aave Today, January 9, Lookonchain posted data on the X platform that the crypto whale withdrew 1,186 MKR (worth $1.75 million) and 1,987 AAVE (worth $563,000) from Binance. This gigantic transaction of Maker and Aave happened during a period when the broader digital asset market was struggling to maintain an uptrend. The global market currently lost the strengths it acquired since the beginning of the year. Such withdrawals have captured interest from crypto users, as they signify strategic accumulation amid current market conditions. They signal a “buy the dip” activity, highlighting long-term holdings as the investor expects a higher price for the assets. Normally, huge withdrawals by big investors are seen as bullish signals, showing robust confidence in the token’s potential. It is likely that the trader withdrew the tokens to stake or deploy them in DeFi platforms. Whether the intention is to hold them for the long term, stake them, or deploy them in a liquidity pool, the activity highlights a bullish sentiment around Maker and Aave. Maker and Aave price updates Today, most cryptocurrencies have embraced a correction mode because of prevailing macroeconomic factors. They have suffered the effect of the overall market drop, triggered by Bitcoin’s selloff. Bitcoin plunged 2.8% to $92,817.62 amid a wider crypto decline following news reports that the US DOJ has been permitted to sell 69,370 Bitcoin (valued at $6.5 billion) confiscated from Silk Road. Today, Maker and Aave have failed to develop on their previous bullish momentums, contrary to the price gains they made early this month. Aave has seen a decline below…
Filed under: News - @ January 10, 2025 12:24 pm