- Whale moves $7.48M in AAVE after months of inactivity, hinting at a possible market shift while still holding $11.61M in tokens.
- BTC short trader MELANIA reveals identity, but ZachXBT raises concerns over possible illicit links and a suspicious account history.
- AAVE breaks wedge resistance at $177.85, signaling bullish momentum with a potential target of $200 if volume supports the move.
According to Spot on Chain, A whale just moved 43,500 AAVE tokens worth $7.48 million to FalconX after four months of inactivity. This transaction suggests a possible shift in market sentiment. The whale still holds 67,426 AAVE, valued at $11.61 million. Its total profit from AAVE stands at an impressive $12.72 million, reflecting an 88.4% gain.
Besides, another whale recently took a $1.81 million profit on AAVE but missed a larger opportunity. Whale 0xfc0 accumulated 43,885 AAVE between August 23 and November 27, 2024, at an average of $145.9 per token. After staking the tokens for rewards, they unstaked and deposited all 44,765 AAVE to Binance at $183.27. This move secured a 28% gain. However, selling in December could have netted $10.9 million.
Mysterious BTC Short Trader Reveals Identity
A renowned trader known for shorting Bitcoin without getting liquidated has revealed their identity as MELANIA on X (formerly Twitter). This trader gained fame by controlling a massive $522 million position on Hyperliquid with just $8.3 million in collateral. Their strategy helped them earn over $9 million in profits.
Moreover, MELANIA successfully traded Ethereum (ETH) and Hyperliquid (HYPE), securing profits at the right moments. To prove their legitimacy, they linked their Ethereum wallet to DeBank and posted a signed cryptographic message on Etherscan. However, blockchain investigator ZachXBT has raised concerns about potential links to illicit funds.
ZachXBT suggests that MELANIA’s X account may have been bought to fake a long history. Additionally, some transactions appear linked to wallet drainers and TornadoCash. Full details of the investigation will be released on March 20, potentially revealing more insights.
AAVE Price Action Indicates Bullish Momentum
AAVE/USDT’s 4-hour chart on Binance displays a descending wedge breakout, signaling bullish momentum. The price recently surpassed the wedge resistance at $177.85, indicating potential upward movement. Previously, the market followed a downtrend before consolidating.
Furthermore, trading volume remains steady at 1.27K, while the Accumulation/Distribution (A/D) line sits at 4.72M. The On-Balance Volume (OBV) indicator stands at 6.66M, reflecting stable market conditions. A breakout above $180 could confirm bullish continuation, targeting resistance at $200. However, a failure may lead to consolidation near $160 support.
