Whales drive AAVE demand: Will it break $300 soon?

AAVE whales have been accumulating in the last two weeks.
A recap of spot and derivatives demand as the bears cool off.

Week for Aave [AAVE] shaping up to be quite thrilling, with a surge in bullish sentiment. What’s particularly intriguing, though, is the growing attention from ‘large investors’ or ‘whales’, who have been expressing interest in AAVE. This increased interest could potentially accelerate its potential rebound.

Based on historical records, it appears that whales (large investors) started collecting or hoarding the coin from the beginning of January.

As of the 1st of January, whales owned approximately 8.92 million AAVE tokens, representing around 55.75% of the entire token supply. Since then, this amount has increased to about 9.07 million AAVE tokens, now accounting for roughly 56.69% of the total number of tokens in circulation.

source: IntoTheBlock

At present, whale investors hold the most AAVE tokens, which means they exert the greatest influence on the token’s price. During the same timeframe, this group of investors reduced their holdings from approximately 4.05 million tokens to around 3.88 million tokens.

Additionally, retail owners have also taken advantage of the price drop to acquire more AAVE, growing their holdings from 3.03 million to 3.05 million.

Could whale demand support AAVE recovery?

The increase in whales (large investors) holding AAVE is a positive indication for AAVE bulls. This trend might indicate a possible price surge following the recent drop. It seems that the bearish sentiment towards AAVE has waned over the weekend, leading to an increased demand.

As a crypto investor, I witnessed AAVE being sold at $290.75, marking a significant rebound of approximately 13% from its lowest point on the 13th of January. Interestingly, the money flow indicator for this token has been steadily rising since the 8th of January, suggesting that there’s been an influx of liquidity back into AAVE, which is a positive sign for me as an investor.

Over the past couple of days, we’ve seen a shift towards positive sentiment during the weekends and a strong push upward, which might suggest further price increases for the cryptocurrency. But it’s crucial to remember that ongoing interest is essential for this trend to continue.

Recently, the most recent on-chain data indicates a strong resurgence of investor interest following the point where the last surge of selling pressure ended.

Example: The trading volume of derivatives based on AAVE reached an all-time high of $1.04 billion in the past 24 hours, marking a significant increase of 61.05%. This is the highest volume recorded for a single day during the current month.

source: Coinglass

The surge in trading activity indicates a high level of interest in the token, suggesting its possible resurgence. Open Interest reached a maximum of $310.50 million following an increase of 6.95%.

As previously mentioned, I’ve observed a significant rise in the demand for the spot segment since the 7th of January. Simultaneously, the demand pattern in the spot market has also evolved over this period.

Spot outflows declined and turned positive on the 11th of January.

source: Coinglass

Read Aave’s [AAVE] Price Prediction 2025–2026

At the moment of examination, the inflow of the coin’s spot reached a peak of $5.09 million, which was the highest in the past fortnight.

During this timeframe, I’ve observed a significant reemergence of interest in AAVE. The intriguing aspect lies in whether this surge will persist and potentially escalate further in the impending days.

2025-01-15 10:16

Could whale demand support AAVE recovery?

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