Aave Whale Sells Off Heavily Ahead of "Aave Decentralization Branding" Proposal Launch, AAVE Plunges 12% This Morning

BlockBeats News, December 22, according to HyperInsight monitoring, due to this morning's AAVE short-term decline, the leading long whale (0x074) on Hyperliquid saw its unrealized loss expand to 176% today, with an average price of $189, holding a position of approximately $1.2 million. This long position was opened on November 16.

According to on-chain analyst Yu Jin's monitoring, the main reason for this morning's AAVE price drop was a large-scale sell-off, with the second-ranked whale address in AAVE selling 230,000 AAVE (approximately $38 million), causing a short-term price decline. During the period from 5:40 to 7:05 a.m., the whale exchanged all AAVE for 227.8 WBTC and 5869.4 stETH. It is reported that this batch of AAVE was purchased from the end of last year to early this year, with an average cost of around $223.4. The position was liquidated at an average price of around $165, resulting in an estimated loss of $13.45 million.

In early news today, the Aave community will open a vote on the "Brand Asset Ownership Transfer to Holders" ARFC proposal on Snapshot tomorrow at 10:40, and the voting will continue until December 26. The proposal is interpreted by the market as a "decentralized measure to transfer brand assets to DAO governance," which, while raising concerns, also partially eliminates future elasticity expectations related to brand assets, leading to a short-term repricing in the market.