According to the latest data from on-chain analytics platform Onchain Lens, on January 16, the whale wallet '0xE9D' moved 11,089 AAVE tokens worth approximately $1.9 million from Kraken, marking its first significant activity in over a month.
This move has sparked market interest as the whale had remained relatively quiet during this period. Currently, the wallet holds a total of 355,093 AAVE tokens valued at around $59.15 million. However, its associated debt on the blockchain has also risen, now reaching $30 million.
As a leading decentralized lending protocol, AAVE's token performance often reflects broader market sentiment and large holder behavior. This substantial addition to holdings may signal continued confidence in the project's long-term outlook.