Whale Accumulates $15M in AAVE via Wintermute, Now Holds $26M Profit

The transaction involved a transfer of 15 million USDC to Wintermute, in exchange for 57,715 AAVE tokens, setting the purchase price at roughly $259.9 per token.

This move came just a day after the same wallet address sold 184.4 Wrapped Bitcoin (WBTC) for $20.4 million through Wintermute’s over-the-counter (OTC) desk.

Long-Term Accumulation Strategy

According to blockchain data, this whale has been accumulating AAVE since March 2023. Over time, the investor has spent approximately $30.8 million to acquire 224,010 AAVE tokens, averaging a cost basis of $137.5 per unit.

With AAVE currently trading well above the average buy-in price, the investor now holds an unrealized profit of over $26.3 million—a gain that highlights both the timing and scale of their strategy.

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The transactions also reflect continued confidence in AAVE and suggest that institutional players may be quietly positioning themselves in DeFi blue chips as market sentiment improves.

Wintermute’s role in these high-value trades further demonstrates how sophisticated investors are leveraging OTC channels to avoid slippage and preserve market conditions during accumulation.

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