Chiara Bianchi
Recent data from crypto whale activity has sparked renewed investor optimism, signaling potential price rallies for certain DeFi tokens despite the broader market’s fluctuating conditions. On April 17th, large investors reportedly accumulated over $20 million worth of AAVE and UNI, with these substantial purchases generating a wave of bullish sentiment around these assets.
According to whale tracking data from Spot On Chain, significant accumulations of DeFi tokens have been occurring through over-the-counter (OTC) transactions. Two newly identified wallets have collectively acquired $20.11 million in UNI and AAVE tokens.
One wallet, labeled “0x3bb..”, made a purchase of $4.28 million worth of UNI from Cumberland, while another wallet, along with the same “0x3bb..” address, bought a combined $15.83 million worth of AAVE from the same OTC exchange. These transactions have heightened expectations that price gains are likely for these DeFi tokens in the near future.
Market Confidence Boosted by Whale Inflows
Whale accumulations are often a bullish signal in the crypto space, as they indicate strong market confidence and buying pressure. The recent uptick in whale purchases suggests that AAVE and UNI are poised for potential price increases. Traders and investors are now eagerly anticipating future rallies in these tokens based on this increased institutional interest.
How Are AAVE and UNI Performing in the Market?
At the time of writing, AAVE has risen by approximately 3.5%, trading at $138.81, after reaching a low of $130.43 earlier in the day. This upward movement appears to align with the bullish market activity driven by whale purchases, signaling positive price momentum for the DeFi token.
Furthermore, PRIME reported that the AAVE community had proposed a significant buyback plan and liquidity upgrade last month, both aimed at enhancing the token’s market dynamics. This development, paired with recent whale activity, suggests that the token could see further price improvements.
On the other hand, UNI has also seen a modest rise of about 2.5%, trading at $5.27 after hitting an intraday low of $5.05. As with AAVE, the surge in whale purchases has caught the attention of crypto enthusiasts, fueling expectations of price gains for the UNI token as well.
