{"id":569669,"date":"2025-01-15T23:00:53","date_gmt":"2025-01-15T23:00:53","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=569669"},"modified":"2025-01-15T18:08:45","modified_gmt":"2025-01-15T18:08:45","slug":"whales-accumulating-maker-and-aave-path-to-2024-highs","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/defi\/whales-accumulating-maker-and-aave-path-to-2024-highs\/","title":{"rendered":"Whales Accumulating Maker And Aave, Path To 2024 Highs?"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">On-chain data suggests that whales are accumulating large amounts of Maker (MKR) and Aave (AAVE), two leading decentralized finance (DeFi) tokens. This accumulation trend coincides with a broader cooling-off period in the crypto scene days after the United States Securities and Exchange Commission (SEC) approved 11 spot Bitcoin ETFs.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Whales Accumulate MKR And AAVE<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">According to ScopeScan\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/0xScopescan\/status\/71208330\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">data<\/span><\/a><span data-preserver-spaces=\"true\">, Anchorage Digital, a digital asset custody firm, purchased a significant amount of MKR on January 15. The firm acquired 12,103 MKR tokens, valued at approximately $24.7 million, from Coinbase, a leading crypto exchange in the United States.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/news\/ethereum\/ethereum-bloodbath-celsius-eth\/\" target=\"_blank\" rel=\"noopener \">Ethereum Bloodbath Incoming? Celsius\u2019 $125 Million Move Threatens ETH Price<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Two whales, &#8220;0xbb5f&#8221; and &#8220;0x4a7,&#8221; also accumulated large quantities of MKR and AAVE. Specifically, &#8220;0xbb5f&#8221; bought 50,000 AAVE and 2,452 MKR worth around $5.03 million and $4.95 million from Binance, a leading cryptocurrency exchange. Meanwhile, 0x4a7 purchased 39,000 AAVE and 2,350 MKR, valued at approximately $3.95 million and $4.75 million, also from Binance.<\/span><\/p>\n<figure id=\"attachment_569670\" aria-describedby=\"caption-attachment-569670\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-569670\" src=\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/01\/GD3MUkUaoAApd1x.jpg?resize=1024%2C305\" alt=\"Whales accumulating Maker and Aave | Source: Scopescan\" width=\"1024\" height=\"305\" srcset=\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/01\/GD3MUkUaoAApd1x.jpg?w=1053 1053w, https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/01\/GD3MUkUaoAApd1x.jpg?w=460 460w, https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/01\/GD3MUkUaoAApd1x.jpg?w=768 768w, https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/01\/GD3MUkUaoAApd1x.jpg?w=860 860w, https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/01\/GD3MUkUaoAApd1x.jpg?w=750 750w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-569670\" class=\"wp-caption-text\">Whales Accumulating Maker and Aave | Source: Scopescan<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">These whale purchases signal a strong belief in the long-term potential of MKR and AAVE. Maker and Aave are two of the world&#8217;s leading decentralized lending and borrowing protocols across DeFi. MKR serves as the governance token for MakerDAO, which also manages the DAI decentralized stablecoin. On the other hand, AAVE is the governance token of Aave, a top decentralized lending platform.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to the latest DeFiLlama\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/defillama.com\/\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">data<\/span><\/a><span data-preserver-spaces=\"true\">, Maker and Aave have total value locked (TVL) of over $8.4 billion and $7.3 billion, respectively.<\/span><\/p>\n<figure id=\"attachment_569671\" aria-describedby=\"caption-attachment-569671\" style=\"width: 722px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-569671\" src=\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/01\/Screenshot506.png?resize=722%2C265\" alt=\"Top DeFi protocols | Source: DeFiLlama\" width=\"722\" height=\"265\" srcset=\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/01\/Screenshot506.png?w=722 722w, https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/01\/Screenshot506.png?w=460 460w\" sizes=\"(max-width: 722px) 100vw, 722px\"><figcaption id=\"caption-attachment-569671\" class=\"wp-caption-text\">Top DeFi protocols | Source: DeFiLlama<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Notably, whales are accumulating MKR and AAVE when the DeFi scene is recovering following the sharp contraction from 2022. The industry manages over $56 billion, with Ethereum hosting more liquid DeFi protocols, including Lido DAO when writing in mid-January 2024.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Will Maker and Aave Rally To New 2024 Highs On Recovering DeFi?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Last year, MKR and AAVE were among the top-performing DeFi tokens, with MKR rising by over 200% and AAVE appreciating by more than 150%. Protocol-specific fundamentals, including the launch of Spark in Maker, partly drove this strong performance. <\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/bitcoin-news\/low-bitcoin-cryptoquant-head-reveals-target\/\" target=\"_blank\" rel=\"noopener \">How Low Can Bitcoin Go? CryptoQuant Head Reveals Target<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Aave launched the GHO stablecoin and the Lens protocol on the Ethereum sidechain, Polygon. Moreover, expectations of the <a href=\"https:\/\/www.ktsl888.com\/news\/bitcoin\/spot-bitcoin-etfs-record-over-800-million-in-net-inflows-in-debut-week-details\/\" target=\"_blank\" rel=\"noopener \">spot Bitcoin ETF<\/a> forced aggressive traders to consider top DeFi protocols, lifting altcoins.<\/span><\/p>\n<figure style=\"width: 1233px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/eSuDd4Op\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/eSuDd4Op\/\" alt=\"Maker price trending upward on the daily chart | Source: MKRUSDT on Binance, TradingView\" width=\"1233\" height=\"592\"><\/a><figcaption class=\"wp-caption-text\">Maker price trending upward on the daily chart | Source: <a href=\"https:\/\/www.tradingview.com\/x\/eSuDd4Op\/\" target=\"_blank\" rel=\"noopener nofollow\">MKRUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">As whales accumulate, there is more headroom for these tokens to grow. Presently, AAVE and MKR are lower, based on their respective performance in the daily chart. However, overly, the uptrend remains. To illustrate, MKR is within a bullish breakout formation with a critical support level of around $1,560. Any surge past $2,300 might ignite demand, lifting the token to new 2024 highs.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature image from Canva, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>On-chain data suggests that whales are accumulating large amounts of Maker (MKR) and Aave (AAVE), two leading decentralized finance (DeFi) tokens. This accumulation trend coincides with a broader cooling-off period in the crypto scene days after the United States Securities and Exchange Commission (SEC) approved 11 spot Bitcoin ETFs.\u00a0 Whales Accumulate MKR And AAVE According to ScopeScan\u00a0data, Anchorage Digital, a digital asset custody firm, purchased a significant amount of MKR on January 15. The firm acquired 12,103 MKR tokens, valued at approximately $24.7 million, from Coinbase, a leading crypto exchange in the United States.\u00a0 Related Reading: Ethereum Bloodbath Incoming? Celsius\u2019 $125 Million Move Threatens ETH Price Two whales, &#8220;0xbb5f&#8221; and &#8220;0x4a7,&#8221; also accumulated large quantities of MKR and AAVE. Specifically, &#8220;0xbb5f&#8221; bought 50,000 AAVE and 2,452 MKR worth around $5.03 million and $4.95 million from Binance, a leading cryptocurrency exchange. Meanwhile, 0x4a7 purchased 39,000 AAVE and 2,350 MKR, valued at approximately $3.95 million and $4.75 million, also from Binance. These whale purchases signal a strong belief in the long-term potential of MKR and AAVE. Maker and Aave are two of the world&#8217;s leading decentralized lending and borrowing protocols across DeFi. MKR serves as the governance token for MakerDAO, which also manages the DAI decentralized stablecoin. On the other hand, AAVE is the governance token of Aave, a top decentralized lending platform.\u00a0 According to the latest DeFiLlama\u00a0data, Maker and Aave have total value locked (TVL) of over $8.4 billion and $7.3 billion, respectively. Notably, whales are accumulating MKR and AAVE when the DeFi scene is recovering following the sharp contraction from 2022. The industry manages over $56 billion, with Ethereum hosting more liquid DeFi protocols, including Lido DAO when writing in mid-January 2024.\u00a0 Will Maker and Aave Rally To New 2024 Highs On Recovering DeFi? Last year, MKR and AAVE were among the top-performing DeFi tokens, with MKR rising by over 200% and AAVE appreciating by more than 150%. Protocol-specific fundamentals, including the launch of Spark in Maker, partly drove this strong performance. Related Reading: How Low Can Bitcoin Go? CryptoQuant Head Reveals Target Aave launched the GHO stablecoin and the Lens protocol on the Ethereum sidechain, Polygon. Moreover, expectations of the spot Bitcoin ETF forced aggressive traders to consider top DeFi protocols, lifting altcoins. As whales accumulate, there is more headroom for these tokens to grow. Presently, AAVE and MKR are lower, based on their respective performance in the daily chart. However, overly, the uptrend remains. To illustrate, MKR is within a bullish breakout formation with a critical support level of around $1,560. Any surge past $2,300 might ignite demand, lifting the token to new 2024 highs. Feature image from Canva, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":569674,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83405],"tags":[79511,83417,54512,91190,16218,88426,16359,79658,83535,84647],"class_list":["post-569669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-defi","tag-aave","tag-aaveusdt","tag-defi","tag-gho-stablecoin","tag-maker","tag-maker-price","tag-mkr","tag-mkrusdt","tag-spark","tag-spot-bitcoin-etf"],"acf":[],"yoast_head":"\n<title>Whales Accumulating Maker And Aave, Path To 2024 Highs?<\/title>\n<meta name=\"description\" content=\"On-chain data suggests that whales are accumulating large amounts of Maker (MKR) and Aave (AAVE), two leading DeFi tokens\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. 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The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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