Whale’s $37.6M Sell-Off Triggers 10% Market Plunge
The post Whale’s $37.6M Sell-Off Triggers 10% Market Plunge appeared on BitcoinEthereumNews.com.
The cryptocurrency market witnessed a significant tremor today as the AAVE price drops nearly 10% following a massive sell-off. An anonymous whale executed transactions worth $37.6 million, sending shockwaves through the DeFi community and raising questions about market stability. This event highlights the powerful influence large holders can have on asset valuations. What Caused the Sudden AAVE Price Drops? According to on-chain data from Onchain Lens, the catalyst was clear. Over a three-hour period, a wallet address starting with 0xa923 sold 230,350 AAVE tokens. The whale didn’t simply cash out for stablecoins; instead, they swapped their AAVE for two major assets: 5,869.46 stETH (worth $17.52 million) and 227.8 WBTC (worth $20.07 million). This strategic move away from AAVE and into other blue-chip crypto assets immediately pressured the market. Consequently, the AAVE price drops reflected this sudden increase in selling pressure. Breaking Down the Whale’s $37.6 Million Move Let’s examine the mechanics of this substantial transaction. The whale’s actions provide a case study in large-scale portfolio management. Asset Sold: 230,350 AAVE tokens. Total Value: $37.59 million at the time of the swaps. Assets Acquired: The whale diversified into staked Ethereum (stETH) and Wrapped Bitcoin (WBTC). Market Impact: The sale contributed directly to the reported 9.57% decline in AAVE’s value over 24 hours. This wasn’t a panic sell into fiat but a calculated reallocation within the crypto ecosystem. However, the sheer size of the trade was enough to trigger the notable AAVE price drops observed across exchanges. How Do Whale Transactions Affect Crypto Markets? Whale movements are a critical factor for any crypto investor to monitor. These large holders, whether individuals or institutions, possess the power to move markets single-handedly. Their transactions often signal changing sentiments or strategic shifts. In this case, the whale’s decision to exit a large AAVE position likely…
Filed under: News - @ December 22, 2025 1:27 am