DeFi continues to evolve with Aave’s recent expansion onto the Aptos blockchain, signaling a move beyond Ethereum Virtual Machine (EVM) compatibility.

Aptos brings the promise of faster, cross-chain solutions tailored for high-performance transactions, setting the stage for Aave’s growth as stablecoin adoption gains momentum.

“DeFi will eat finance”

DeFi's evolution continues as @Aave breaks new ground on @Aptos. Beyond EVM, Aptos will bring faster, cross-chain solutions for high-performance transactions. Plus, with stablecoin season underway, the door to the mainstream is wide open. #ExperienceAptos pic.twitter.com/BPo73t2nu8

— Aptos (@Aptos) September 5, 2024

In the past 24 hours, three major whales have withdrawn a total of 67,197 $AAVE tokens from Binance, valued at approximately $9.02 million. These significant movements signal heightened interest in Aave’s new economic model:

1. Two whale addresses, 0x3f9 and 0x64c (likely the same entity), made their first withdrawals, pulling out 16,592 $AAVE ($2.22 million) just 50 minutes ago.
2. A multisignature wallet, 0xa92, withdrew 50,605 $AAVE ($6.8 million) about 20 hours ago, bringing its total holdings to 125,605 $AAVE ($16.7 million).

Three whales have withdrawn 67,197 $AAVE ($9.02M) from #Binance in the past 24 hours!

1. Two whales, 0x3f9 and 0x64c (likely one entity), withdrew 16,592 $AAVE ($2.22M) for the first time ~ 50 mins ago.

2. Multisign 0xa92 withdrew 50,605 $AAVE ($6.8M) ~ 20 hours ago, now… pic.twitter.com/tcCA76Iobj

— Spot On Chain (@spotonchain) September 5, 2024

Since late July, $AAVE has seen a price surge from $90 to $143, making it one of the top-performing DeFi tokens. This rise in price and whale activity reflects growing confidence in Aave, particularly as the protocol introduces new features and expands its cross-chain capabilities with Aptos.

However, while whale accumulation continues, Lookonchain reports that Aave founder Stani Kulechov has been selling off significant portions of his holdings. Since February 26, Kulechov has sold 55,596 $AAVE worth $6.67 million, although he still holds 243,900 $AAVE valued at $32.7 million.

Stani Kulechov(@StaniKulechov), the founder of #Aave is selling $AAVE!

Since Feb 26, Stani Kulechov has sold 55,596 $AAVE($6.67M) and currently holds 243,900 $AAVE($32.7M).

Address:
0xe705b1D26B85c9F9f91A3690079D336295F14F08 pic.twitter.com/0D95c6L5xJ

— Lookonchain (@lookonchain) September 5, 2024

With whales moving large amounts and its founder reducing his stake, $AAVE’s price and performance will be closely watched in the coming months as it continues its DeFi expansion.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: itchaznong/123RF // Image Effects by Colorcinch

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