An institutional wallet that had been dormant for more than a year has suddenly moved 156,690 AAVE worth approximately $22.86 million, according to on-chain data highlighted by Lookonchain. The reactivation included a separate transfer of 62,000 AAVE to centralized exchanges, suggesting the holder may be preparing to reduce exposure.
Broader on-chain tracking indicates that the same institutional investor moved a total of $33.18 million in crypto to multiple CEXs within roughly an hour. The transfers included 6,000 ETH valued at $14.4 million, 19 million WLD worth $9.67 million, and 62,000 AAVE worth $9.11 million. Such CEX inflows are often interpreted as a move toward selling or redistributing assets, creating potential short-term supply pressure.
In a related whale move, wallet Salem1299534 sold 20.06 million AI tokens for approximately 461 ETH, about $1.09 million, and the AI token price dropped 15% shortly afterward. The whale’s total profit from AI trades was reported at $2.14 million, with total sales of $3.12 million against an initial cost of $980,000.
AAVE operates as a decentralized lending and borrowing protocol, so a return of long-dormant supply to circulation could affect liquidity and trader confidence. Market participants are watching whether further large holder distributions follow and how demand absorbs the newly circulating tokens.
