AAVE – How whale activity and growth proposals could affect its price – BitRss

• Whale activity and Ethereum Foundation’s funding reinforced market confidence in AAVE ($330.57)’s long-term potential
• Rising address activity and large transactions highlighted growing adoption and bullish market sentiment

Aave [AAVE] has sparked significant market interest after a whale deposited 17,002 AAVE ($5.9M) to Binance, raising questions about potential price movements. This follows the whale’s previous activity, which saw profits of $13.5M (+330%) from its previous trades. 

Right now, the whale holds 11,637 AAVE ($3.87M), hinting at a strategic reduction in exposure. At press time, AAVE was trading at $333.10, following a 3.91% decline over the last 24 hours.

Ethereum Foundation allocates $165m to AAVE

The Ethereum Foundation has allocated 50,000 ETH ($3,343.94) ($165M) to AAVE, bolstering the DeFi platform’s liquidity and ecosystem presence. This funding comes alongside the setup of a secure 3-of-5 multi-sig wallet to facilitate transactions and strengthen protocol security. 

Additionally, the investment represented a strong vote of confidence in the token’s long-term vi…