In the wild world of crypto, timing can be your best friend or your worst enemy. Recently, a crypto whale, with some seriously deep pockets, learned this lesson the hard way. While they managed to snag a cool $1.8 million in profits from their Aave (AAVE) trades, they missed out on a jaw-dropping $10.9 million due to a bit of mistimed selling.
Picture this: our whale, known in the digital ocean as “0xfc0,” spent months gathering a hefty 43,885 AAVE tokens. Over a span from late August to November, they bought these tokens for an average price of $145.90 each, shelling out a total of $6.4 million. They even staked their AAVE on the platform for some extra rewards.
But here's where it gets spicy. On March 20, they decided to unstake and sell their treasure trove at $183.27 per token on Binance, netting $8.2 million. Not too shabby, right? That move solidified a $1.8 million profit. However, if they'd waited a little longer and sold when AAVE hit its December highs of over $380, they could've been swimming in an extra $10.9 million.
Meanwhile, in another corner of the crypto ocean, a separate whale stirred after a four-month nap, moving 43,500 AAVE, worth about $7.48 million, to FalconX. This whale is sitting pretty with 67,426 coins valued at approximately $11.61 million, boasting total profits of $12.72 million—an impressive 88.4% increase.
Earlier this month, AAVE was on a rollercoaster, soaring 26% to $220 after its decentralized autonomous organization (DAO) proposed sharing net revenue with key contributors. However, the excitement was short-lived, and the token settled back down to $177.91, still 30% lower than a month ago.
While AAVE climbed 4.2% in the last week, the broader crypto market outpaced it with a 6% gain. And over at Binance, the AAVE party is still going strong, with the exchange handling a hefty chunk of the trading volume.
Despite its ups and downs, AAVE’s current price is a far cry from its all-time high of $661.69 in May 2021. But hey, it's also a massive improvement from its all-time low five years ago. The crypto seas are always shifting, and this tale just goes to show the importance of keeping a keen eye on those tides!
