Over the last couple of days, four prominent cryptocurrency whales have collectively gained $12.7 million in profits from Aave [AAVE] and Uniswap [UNI], causing a ripple effect in the alternative coins market.
Such significant activity by whales is often an indication of upcoming price movements, leaving many participants in the market speculating about potential future changes in the value of these digital assets.
Noteworthy Moves by Major Investors
One notable transaction involved two whales, identified as “0x991” and “0x97d” (likely acting as one entity), who transferred 41,469 AAVE—equivalent to $14.7 million—within the last 40 hours.
These whales generated an impressive profit of $11.3 million, representing a remarkable 330% increase in gains.
Furthermore, these investors still retain a considerable sum of AAVE, valued at $10.2 million, with unrealized gains totaling $7.86 million as indicated in a tweet.
This demonstrates their ongoing commitment and significant interest in the market.
In a separate instance, another whale known as “0x1d1” deposited 131,633 UNI tokens (amounting to $1.81 million) on Binance, resulting in profits of around $733K—an increase of 68% over just three months.
Similarly, wallet “0xcc0” moved 145,824 UNI tokens valued at $2 million to Binance, earning approximately $696K in profits, reflecting a 53% gain over a span of 2.5 months.
These strategic maneuvers by whales play a significant role in influencing token prices. However, the implications of these actions on future price trends remain a point of interest.
Impact of Whale Activities on AAVE and UNI
By delving deeper into these recent whale transactions, it is foreseeable that both AAVE and UNI may experience some price fluctuations in the short term.
The substantial outflows from exchanges might hint at potential price declines, as whales may be capitalizing on profits ahead of a likely market correction.
Nevertheless, the fact that these investors still hold substantial quantities of these tokens indicates their positive long-term outlook on AAVE and UNI.
With the recent unrealized profits, it is rational to anticipate a consolidation phase for AAVE, followed by a potential upward movement to test the resistance zone around $400.
Historically, sustained positions by whales have triggered buying pressure, leading to price surges in alternative coins.
Regarding UNI, the substantial 68% profit surge suggests a robust growth phase for the altcoin, and despite some investors cashing out, the token’s upward trajectory could persist with increased institutional interest.