Whale Nets $1.81M Profit from AAVE, Misses Bigger Gain
A crypto whale secures $1.81M profit from AAVE but misses a $10.9M opportunity by not selling earlier.
- Whale accumulated $6.4M in AAVE between Aug and Nov 2024.
- Recently deposited $8.2M worth of AAVE to Binance, making $1.81M.
- Missed peak price in Dec that could have earned $10.9M.
Smart Moves, Missed Timing: Whale’s $1.81M AAVE Profit
Between August 23 and November 27, 2024, a notable crypto whale, identified by wallet “0xfc0,” strategically accumulated 43,885 AAVE tokens. The average price paid was $145.9 per token, totaling approximately $6.4 million. This accumulation was not a passive investment; the whale promptly staked the AAVE tokens on the Aave platform to earn staking rewards, a common strategy among large holders to maximize returns.
From Staking to Selling: The Binance Move
Fast forward to just two hours ago, this whale made a significant move by unstaking and transferring all of their holdings—now totaling 44,765 AAVE—to Binance. At the current price of $183.27 per token, the total value of the deposit stood at $8.2 million. This transaction secured the whale a tidy $1.81 million profit, representing a 28% gain from their original investment.
The Missed Opportunity: What Could Have Been
Interestingly, had the whale decided to sell during AAVE’s December 2024 price spike, they could have realized a much larger profit. At peak levels, the value of the whale’s holdings could have reached $10.9 million, potentially netting them $4.5 million more than the recent sale. This highlights the often difficult task of timing the market perfectly, even for experienced crypto whales.
While the profit is still substantial, this scenario reflects the challenge of balancing risk, reward, and timing in the volatile world of cryptocurrency investments.
