AAVE Native Verdict Token Surges 27% on June 25th

AAVE native verdict token of Aave is decentralized, multi-chain, non-custodial lending and borrowing protocol. It is up 27% as of June 25th, following quiet and under-performance in the second half of the week when Bitcoin and Ethereum prices rose higher on improved trader morale and increased institutional interest in some assets.

AAVE Pumping, the Whales are Piling Up

When writing on June 25, AAVE change price was $71, up 27% in the last 24 hours. Moreover, the bulls reversed all the recorded losses in June when prices were down about 30%, finding lows around $50.

According to the on-chain analytics platform, Lookonchain, AAVE augmentation can be pinned into actions of Pisces accumulate token. Trackers show this unknown Pisces “0x5a80” 182152 AAVE accumulated worth $13.2 million from multiple exchanges in early hours on June 25.

However, AAVE’s fluidity runs deep, as it reads from trackers. Most AAVE trading is on Binance, the world’s largest cryptocurrency exchange by far trading sizes. AAVE trading in this exchange orders 12% market share where AAVE is paired with USDT. It is worth noting that the liquidity score is 618, the highest between all exchanges.

After its rapid buildup, Pisces now holds 413,373 AAVE worth over $29.7 million at spot exchange rates. A closer look at Etherscan also shows that the title holds more from 3.15 million SUI, the native currency of Sui Network, as well as the meme token Vitalik Baby (VIPEPE).

Accumulation or Speculation on AAVE?

It’s not right away clear whether the unknown individual accumulates to speculate or aims to increase their vote power on protocols like Aave. In Aave, AAVE is used for various purposes, including mating, paying fees, and voting on suggestions. Being a decentralized platform, holders of AAVE vote on changes to continuously improve the platform.

In early June, for example, Aave community put forward a proposal to publish GHO, Aave protocol stablecoin and on the main network. Widely supported by Aave community, if approved by a majority vote of AAVE holders, the GHO stablecoin will be fired with a borrowing ceiling of $100 million.

At the same time, Aave V3 will be free to release stablecoin using their deposits of Ethereum (ETH) as collateral. Aave DAO will collect all interest payments from the borrowed GHO, increasing its revenue base.