- AAVE whales have been accumulating over the past two weeks.
- A recap of spot and derivatives demand as bears cool off.
Aave (AAVE) We’re in for an exciting week characterized by a resurgence of bullish demand. But what’s even more interesting is that whales have shown interest in AAVE, which could boost its recovery potential.
According to historical concentration data, whales have been accumulating coin since early January.
Whales held 8.92 million AAVE tokens as of January 1, which equated to 55.75% of the total supply. This figure has since increased to 9.07 million tokens, or 56.69% of the total supply.
source: In the block
Whales currently make up the largest cohort of AAVE holders, thus having the greatest impact on prices. This class of investors reduced their balances from 4.05 million tokens to 3.88 million tokens during the same period.
Meanwhile, retailers also bought the dip, increasing their balances from 3.03 million to 3.05 million AAVE.
Could Whale Demand Support AAVE Recovery?
Whale buildup is a healthy sign for AAVE bulls. This suggests that the price could potentially rebound after its last decline. AAVE bears appear to have run out of steam over the weekend, followed by an increase in demand.
AAVE sold for $290.75 after rebounding about 13% from its January 13 low. Its money flow indicator has been on an uptrend since January 8, indicating that liquidity is flowing back into the token.
Source: TradingView
The weekend’s pivot and the bullish momentum of the past two days could indicate that the coin is poised to advance further. However, sustained demand is needed for this to happen.
The latest on-chain statistics reveal strong interest following the low point of the latest wave of selling pressure.
For example, AAVE derivatives volume peaked at $1.04 billion after rising 61.05% over the past 24 hours. This is the highest daily volume achieved so far this month.
source: Coinglass
The rise in volumes highlights the level of activity behind the token and its potential recovery. Open interest peaked at $310.50 million after rising 6.95%.
Demand has also increased in the spot segment. As previously reported, MFI has surged since January 7 and spot demand has changed over the same period.
Spot outflows decreased and turned positive on January 11.
source: Coinglass
Read Aave (AAVE) Price Prediction 2025-2026
The coin’s one-time inflows peaked at $5.09 million at the time of observation, the highest in the last two weeks.
This confirmed a resurgence in demand for AAVE during this period. The real question is whether this demand can continue and generate more upside potential in the coming days.
