Crypto Whale Continues to Deposit $AAVE to FalconX, Profits Nearly $12.7M

A crypto whale has gained a significant attention with continuous deposits of $AAVE to the crypto exchange FalconX. As per Spot On Chain, the crypto whale is continuously depositing huge amounts of $AAVE to FalconX, with profit nearing up to $12.7M. The on-chain analytics platform disclosed this development on its official X account.

The whale with $12M+ profit from $AAVE just further deposited 30,001 $AAVE ($5.01M) to #FalconX.

Since its return after 4 months of inactivity on March 19, this whale has deposited 73,501 $AAVE ($12.51M) to FalconX at an average price of $170.13.

The whale still has 37,425… https://t.co/0DnGWkOhy4 pic.twitter.com/FpKawx4ndA

— Spot On Chain (@spotonchain) April 1, 2025

Whale Offloads $AAVE Holdings in Big Amounts to FalconX, Raising Speculation

Based on Spot On Chain’s data, the whale recently deposited up to 30,001 $AAVE to the crypto exchange. This figure accounts for $5.01M in terms of value. This deposit comes after a series of transfers that have witnessed the offloading of almost 73,501 $AAVE into FalconX. Hence, these sell-offs, equaling $12.51M, account for a per-token $170.13 average price.

Despite Major Sell-Offs, Whale Still Holds 37,425 $AAVE

Irrespective of these huge deposits, the crypto whale still possesses a substantial $AAVE reserve. The updated statistics reveal that the whale even now retains 37,425 $AAVE tokens, signifying a value of nearly $6.23M. At the moment, the whale’s cumulative profit stands at $12.46M, highlighting a staggering 87% surge. In line with these statistics, the whale has shown a considerably profitable strategy within the $AAVE market.

Large-Scale $AAVE Offloading Underscores Potential Portfolio Reallocation or Profit Taking

According to Spot On Chain, the latest $AAVE deposit takes place after another transaction comprising 43,500 $AAVE ($7.48M). Following this, the recent deposit has further decreased the $AAVE holdings of the crypto whale. This move could be a part of a likely portfolio reallocation or profit-taking strategy. Such notable deposits by crypto whales often influence the wider market dynamics and can lead to huge shifts. Meanwhile, the market onlookers keep looking for the potential impact of these sell-offs.