On-chain analytics firm centimenthas released new on-chain data on the trend in AAVE. Analysts think that selling pressure is gradually decreasing in AAVE.
According to Santiment’s data, the sentiment metric in AAVE has risen sharply since September 13 and turned positive. According to this data, the needle is turning towards the bulls.
It is also held by the largest wallets on exchanges. AAVE amount has fallen by a large amount in the past day. This data shows that whales on exchanges are transferring their coins to cold wallets to keep them longer.
Another chart from Santiment revealed who the weighted sales came from in AAVE.
According to the chart, the main reason for the last week’s decline in AAVE is sales by large investors. Investors holding 100,000-1,000,000 tokens sold on Monday and Tuesday. However, they switched to rebuying for the rest of the week. Thus, the selling pressure from the big investors came to an end.
Latest Situation in AAVE
First bitcoin and Ethereum While sales were seen this week in cryptocurrencies, including AAVE, the market accompanied the market. AAVE has lost 15% in the last 7 days.
AAVE, the largest lending platform in the crypto universe, had a massive rally towards the summer of 2021.
AAVE has lost a total of 88% value since its peak on May 17, 2021.
For AAVE, which is holding above the $77 level on the daily chart, the most important resistance above is the $115 level.
$AAVE is currently trading at $80.7.
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