BlockBeats News, December 22nd, according to HyperInsight monitoring, influenced by this morning’s short-term drop in AAVE, the leading bull whale (0x074) on Hyperliquid saw today’s paper loss expand to 176%, with an average price of $189, and a position size of approximately $1.2 million. This long position was opened on November 16th.
According to on-chain analyst Yu Jin’s monitoring, the main reason for this morning’s AAVE price drop was large-scale sell-offs. The whale address ranked second in AAVE holdings sold 230,000 AAVE tokens (worth about $38 million), causing a temporary price dip in AAVE. During the period from 5:40 to 7:05 a.m., the whale exchanged all AAVE for 227.8 WBTC and 5,869.4 stETH. It is reported that these AAVE tokens were purchased from the end of last year to early this year, with an average cost of approximately $223.4. The whale liquidated the position at an average price of around $165, resulting in an estimated loss of $13.45 million.
Early today, the Aave community announced that tomorrow at 10:40 am, they will initiate a vote on the “Brand Asset Control Transfer to Holders” (ARFC) proposal on Snapshot, with voting open until December 26th. The proposal has been interpreted by the market as a “decentralized measure to transfer brand assets to DAO governance,” which has caused concerns but also partially eliminated future price elasticity expectations related to brand assets, leading to a short-term repricing in the market.
