An anonymous high-stakes crypto investor has caught the attention of on-chain analysts after executing a bold portfolio reshuffle—exiting a sizable Bitcoin position and doubling down on AAVE.
The activity, flagged by blockchain researcher Yu Jin, appears to reflect a long-term strategy centered on DeFi exposure.
The latest move involved a $15 million transfer in USDC to algorithmic market maker Wintermute, followed by the purchase of 57,715 AAVE tokens at an average price of around $259.90. This comes just one day after the same wallet sold 184.4 wrapped Bitcoin (WBTC) for approximately $20.4 million via Wintermute’s over-the-counter (OTC) service.
Historical data suggests this isn’t a sudden bet. The investor has been quietly accumulating AAVE since March 2023, steadily building a position now totaling 224,010 tokens. Based on an average entry price of $137.50, the whale is currently sitting on an unrealized profit of over $26 million at today’s price of $265 per AAVE.
The wallet, which holds more than $59 million in total assets, shows a clear preference for AAVE and possibly decentralized finance as a whole. While the identity of the investor remains unknown, the scale and strategy of the trades suggest an institutional player or veteran whale repositioning for long-term gains in the DeFi space.
With AAVE showing renewed strength and trading volumes climbing, market watchers are now closely tracking whether this whale continues to accumulate—or signals a larger trend among major players rotating into next-generation finance tokens.
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