Another Large Investors in the DeFi Token is dumping.

A wallet holding a large amount of AAVE has sold over 230,000 AAVE in batches over the past three hours, with a total value of approximately $38 million. The cost price of this operation was around $223.4, and now all have been sold at a lower price—resulting in a loss of over $13.44 million.

During the sell-off, the price of $AAVE was dumped to a low of $156.2, a drop of 11.48% from its high. Although it has now rebounded to $162.6, this Large Investor has already run away. Interestingly, this guy has turned to mainstream coins like $stETH and $WBTC, seemingly trying to avoid the risks of DeFi tokens.

The logic behind this wave of operations is clear - large-scale selling leads to a weakening of the coin price, and then large investors quickly shift to mainstream assets. For investors still holding DeFi tokens, this signal is worth pondering.