The analytics company Lookonchain recently highlighted in one of their tweets that a notable whale had recently made a sizeable Ethereum (ETH) withdrawal about two hours prior. The post claimed that 2,096 ETH, or $4 million, had been taken out of Binance, a popular cryptocurrency exchange.
Shortly after, the whale used 500 Ethereum (approximately $960,000) to purchase 184,664 different Uniswap (UNI) token models for $5.2 each. Additionally, the whale invested 862 Ethereum, or almost $1.65 million, to acquire 24,252 Aave (AAVE) tokens, each worth $68.25.
UNI and AAVE both experienced significant price increases over the previous 24 hours of purchasing and selling, according to data from CoinMarketCap. Following a more than 11% price increase, UNI was trading hands at $5.39. This further pushed the cryptocurrency’s weekly efficiency into the negative territory at +19.78%.
Additionally, UNI’s 24-hour trading volume increased by 118.55%, bringing it to around $106 million at the time of publication. Since May of 2021, when UNI’s value reached its all-time high (ATH), it has decreased by more than 88%.
AAVE had its value increase by more than 24% over the previous day, making it one of the top gainers among the top 50 largest cryptocurrencies. As a result, AAVE’s value at press time was $72.09, which is close to its 24-hour high of $73.53.
After its most recent advance, the altcoin’s weekly performance was also firmly placed in the green area at +39.84%. AAVE is now the forty-first largest cryptocurrency by market capitalization with a value of $1,037,394,232.
Despite the whale’s massive ETH withdrawal, the cryptocurrency leader was still able to post a 1.23% gain compared to the previous trading day. ETH was therefore buying and selling at $1,910.73.