Overview
- On-chain data attributes the drop to wallet 0xa923 offloading about 230,350 AAVE and swapping the proceeds into stETH and WBTC, leaving the token near $161.70.
- The selling wallet reportedly realized roughly $13.8 million in losses, and the move coincided with a near-10% intraday decline and a sharp volume spike.
- Short‑term technicals flag risk around the $160–$165 area, with analysts warning that a decisive close below could open a path toward $145–$150.
- Despite the sell-off, large-holder metrics show accumulation as top addresses increased holdings and exchange reserves trended lower, with Multicoin Capital reportedly buying about $20 million in AAVE OTC earlier this month near $178.
- Fundamental activity stayed strong with a 226% surge in trading volume to $577 million, $1.59 million in long liquidations, roughly $1.42 billion added to TVL since Dec. 18, and record quarterly earnings of $22.56 million alongside recent fees of $1.88 million daily and $11.58 million over seven days.