In a stunning move that has sent shockwaves through the cryptocurrency community, renowned entrepreneur and TRON founder Justin Sun has made substantial deposits of the popular token AAVE. Just 20 minutes ago, Sun deposited a staggering 11,910 AAVE tokens, equivalent to a jaw-dropping value of $776,000, into the renowned exchange platform, Huobi. This is the latest in a series of strategic moves by Sun, who has been making waves in the crypto world with notable transactions.
Notably, a crypto analyst firm, Lookonchain, recently shared some intriguing details about Justin Sun’s AAVE transactions. The tweet highlighted significant deposits made to Huobi and Binance at different times:
Justin Sun deposited all 11,910 $AAVE($776K) into #Huobi 20 mins ago.
— Lookonchain (@lookonchain) June 26, 2023
Justin Sun deposited 49K $AAVE ($16M) to #Binance on Oct 27, 2021, when the price was $327.
And deposited 59.5K $AAVE ($8.8M) to #Binance on Jan 28, 2022, when the price was $148.https://t.co/1sGx4VBArR pic.twitter.com/mO9u9bTlzP
As per the data provided by the analytics firm, on October 27, 2021, when the price of AAVE stood at $327, Sun made another significant deposit. The entrepreneur transferred 49,000 AAVE tokens worth an eye-popping $16 million into the popular exchange platform, Binance. This move showcased Sun’s confidence in the potential growth of AAVE, solidifying his position as a prominent player in the crypto space.
In the vast ocean of cryptocurrencies, AAVEUSD has been making waves with its recent price movement. The AAVE token, belonging to the Aave platform, has experienced a notable downturn, plunging by 5.3% to reach $64.741995. This price drop has caught the attention of both seasoned traders and curious onlookers, presenting a captivating opportunity for analysis.
Despite the temporary setback, AAVEUSD maintains a neutral technical outlook, suggesting a potential equilibrium between buyers and sellers. However, indicators lean towards a cautious sentiment, with the Relative Strength Index (RSI) at 41.59, indicating a bearish inclination. As traders navigate these uncharted waters, it becomes crucial to consider various factors and indicators to determine the next move.
To navigate these treacherous tides, traders should closely monitor key levels. The immediate support level lies at $64.072248, serving as a crucial boundary for potential rebounds. On the other hand, breaking through the resistance at $68.739721 could ignite a bullish surge, paving the way for further gains.
As the AAVEUSD ship sails through uncertain waters, traders must exercise caution and meticulous analysis. While the recent dip presents a potential opportunity, it’s crucial to factor in technical indicators and the broader market landscape. Stay vigilant, embrace the waves, and seize the hidden treasures in this captivating cryptocurrency journey.
