AAVE whale moves $22.8M in tokens – Is $140 support at risk?

As Aave [AAVE] continues its sharp decline, it appears that some long-term investors are capitulating. According to Lookonchain, an institutional investor became active again after a year and moved 156,690 AAVE, worth $22.86 million, possibly to sell. So far, the intestor has deposited 62,000 AAVE worth $9.12 million into exchanges. This is a significant amount of AAVE moving into exchanges and could mean two things: either an exit or a portfolio reshuffle. If the tokens are sold, they could put significant downside pressure on AAVE, especially now that it is in a sharp decline. AAVE exchange supply on the rise In addition to the reported exchange deposits, the supply of AAVE held on exchanges has continued to rise.

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