Whales have been accumulating AAVE in massive quantities on centralized exchanges as it trades near July 2024 levels. This massive accumulation comes just after Animoca Brands partnered with AAVE.
According to a crypto netizen, a whale bought nearly $2.7 million worth of AAVE on the Bybit exchange and then transferred it to a personal wallet. This accumulation comes during a critical time. Why? Firstly, the whales timed the acquisition just after AAVE partnered with Animoca Brands, which gives confidence to the community. And then on the technical front, AAVE is sitting at 2024 levels.
AAVE is currently trying to find its floor price after it has been on a downward trend since last September. Priced at 96, the token is now at 2024 July levels, and there is still no evidence that the token has found its bottom. However, seeing AAVE at these levels, the whales saw the opportunity to pounce on it before the price recovers.
The whale accumulation is very strategic as it comes just a few days after Animoca Brands partnered with Aave. The blockchain gaming company Animoca Brands partnered with AAVE to support the growth and adoption of the Avanlanche ecosystem.
Whales accumulate AAVE after Animoca collab
According to the official press releases, “The collaboration between Animoca Brands and Ava Labs focuses on deploying capital, exploring product integrations, and providing strategic advisory support to high-potential projects that are building on Avalanche, with an initial focus on key verticals such as entertainment, real-world assets (RWA), and digital identity. This effort will initially focus on the Middle East and Asia, where Animoca Brands has established regional infrastructure and institutional relationships that Avalanche ecosystem projects will be able to draw on as they pursue commercial deployment.”
The timing of the whale accumulation is something to be noticed. As Animoca Brands partners with AAVE, whales are stepping in early, positioning before the broader market fully reacts to the news. It isn’t just about fundamentals — it’s about front-running the narrative. Animoca carries strong influence in gaming, NFTs, and the metaverse, and that kind of exposure tends to pull in attention and liquidity over time.
Whale secures position early to ride the hype
By accumulating now, whales secure positions at relatively lower levels, knowing that once the collaboration gains traction, retail interest and momentum usually follow. That influx of buyers then gives them the flexibility to either distribute their strength or ride the trend further if the narrative expands, making the move less about the present and more about anticipating where the attention flows next.
On the technical front too, the whales timed the entry perfectly. For instance, the descending triangle is a bearish chart where prices crash after completion. When a descending triangle forms, traders start selling with every new lower high as sellers become increasingly aggressive while buyers struggle to push up.
The flat support level acts as a temporary floor where demand steps in, but each bounce gets weaker, showing that buying pressure is fading. Over time, this creates a buildup of liquidity below support, as stop losses and breakout entries cluster in that area.
Once the level finally breaks, it often leads to a sharp move down, driven by panic selling and triggered stops. Until that breakdown happens, the pattern reflects a market where sellers are in control, slowly compressing price and preparing for a potential continuation to the downside.
However, once the token is out of the descending triangle, the selling pressure is over and the market is now clean. Knowing that there is no further downside to the token, the whales stepped in, buying AAVE at a discounted price. The relative strength index makes higher highs, and the bullish momentum is building. So this is again clever timing by the whales.
