Whale Accumulates $15M in AAVE via Wintermute, Now Holds $26M Profit

An unidentified crypto whale or institutional investor has made headlines again, purchasing $15 million worth of AAVE tokens today

An institutional investor or a crypto whale has made another major cryptocurrency purchase, accumulating $15 million in AAVE tokens from algorithmic market maker Wintermute on Wednesday, on-chain analyst Yu Jin has pointed out.

The transaction involved a transfer of 15 million USDC to Wintermute, in exchange for 57,715 AERE tokens, setting the purchase price at roughly $259.9.

This move came just a day after the same wallet address sold 184.4 Wrapped Bitcoin (WBTC) for $20.4 million through Wintermute’s over-the-counter (OTC) desk.

Long-Term AAVE Accumulation Strategy

According to blockchain data, this whale has been accumulating AAVE since March 2023. Over time, the investor has spent approximately $30.8 million to acquire 224,010 AAVE tokens, averaging a cost basis of $137.5 per unit.

With AAVE currently trading well above the average buy-in price, the investor now holds an unrealized profit of over $26.3 million—a gain that showcases both the timing and scale of their strategy.

The transactions also highlight the continued confidence in AAVE and suggest that institutional players may be quietly positioning themselves in key DeFi chips as market sentiment improves.

Wintermute’s role in these high-value trades showcases how sophisticated investors are leveraging OTC channels to avoid slippage and maintain optimal market conditions during their accumulation strategies.