AAVE Short-Term Breaks Above $385, Surges Over 14% in 24 Hours

On August 24th, a certain Bitcoin "ancient whale" further deposited 5,000 BTC into Hyperliquid. The value of this deposit is approximately $5.7467 billion, and the purpose is to exchange it for ETH. Currently, this "ancient whale" holds 179,498 ETH, with a value of approximately $8.505 billion. It also maintains a long position of 135,265 ETH, which is worth approximately $6.4092 billion.

On August 24th, as monitored by lookonchain, the whale address 0x3c9E has always been panicking and selling ETH during market downturns, only to purchase it back at a higher price. From July 29th to August 3rd: Sold 38,582 ETH at an average price of $3,548 (approximately $136.9 million). From August 8th to August 15th: Bought back 16,800 ETH at an average price of $4,424 (approximately $74.3 million). From August 16th to August 20th: Sold 10,900 ETH at an average price of $4,369 (approximately $47.6 million). In the recent 20 hours: Bought back 7,500 ETH at an average price of $4,747 (approximately $35.6 million).

August 23rd. Stani.eth, the founder of Aave, responded to questions on social media at 20:30 today regarding "Is the WLFI and AAVE protocol still valid? Are they really building on Aave? There are many different rumors from the outside." He stated that the protocol is still valid. "It is stated that at the current price, the Aave Treasury will receive WLFI worth $2.5 billion, making it one of the biggest winners in this cycle." In response to this view, Aave's founder prominently retweeted a comment saying, "The art of the deal." BlockBeats previously reported that Aave will receive 7% of the total WLFI tokens and will receive 20% of the protocol fees generated by WLFI Aave v3. However, the related topic was later denied by an alleged WLFI Wallet team member, which sparked intense discussions on social media platforms and caused significant price fluctuations in the AAVE token.

On August 23rd, Jack Yi, the founder of LD Capital, stated in a post, "Just as we expected, after ETH broke through its all-time high, the next goal is to aim at challenging the all-time high of the BTC exchange rate. The target of ETH is above 10,000. During the interest rate reduction cycle, ETH has been consistently performing better than BTC, ushering in a rally of mainstream coins (including leaders in the ETH ecosystem such as ENA, AAVE, Pendle, UNI, as well as SOL, TON, LTC, etc.). Once again, remember not to go short. Add positions during pullbacks. In a bull market trend, ignore price fears and high prices. Avoid high leverage to prevent short-term pullbacks and spend more energy exploring off-chain income."

On August 23rd, based on a previously disclosed proposal, Aave, as a WLFI lending ecosystem partner, within this Aave v3 instance, WLFI will adopt the same reserve factor mechanism as the main Aave instance. The AaveDAO will receive 20% of the protocol fees generated by the WLFI Aave v3 instance and will obtain approximately 7% of the total WLFI token supply to participate in future WLFI governance processes, liquidity mining, and promote the decentralization of the WLFI platform. Revenue distribution will be implemented through a trustless smart contract, which will directly allocate the corresponding proportion of the protocol fees to the AaveDAO treasury address and the WLFI treasury address.