AAVE drops nearly 10% after whale offloads $37.6M in tokens

An anonymous whale address beginning with 0xa923 sold 230,350 AAVE over the past three hours, swapping the tokens for assets worth a combined $37.59 million, according to data from Onchain Lens. The transactions involved exchanging the AAVE for 5,869.46 stETH ($17.52 million) and 227.8 WBTC ($20.07 million). The sale was followed by a drop of approximately 10% in the price of AAVE. According to CoinMarketCap, the token is currently trading at $161.70, down 9.57% over the past 24 hours.