AAVE Whales has invested about 1 million tokens as an exchange stock

Aave (AAVE) exchange reserves rose to 2.23 million tokens, up from 2.07 million since the beginning of February, as several whale groups reduce their holdings.

Binance now holds approximately 1.63 million AAVE, up from 1.57 million in the same period. This trend indicates that more and more tokens are being moved to exchanges, increasing the risk of near-term sell-side pressure.

Whale distribution accelerates within catchment groups.

Notably, the move pushed reserves back above their 90-day moving average, ending the downtrend that had been in place since April 2025.

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Meanwhile, wallet data from Santiment paints a broader distribution picture. Whalers holding between 100,000 and 1 million AAVE have reduced their collective holdings from 7.45 million to 6.49 million tokens since the end of February. This is approximately 960,000 AAVE net sales.

The 10,000–100,000 token group tells a similar story. While this group initially rallied until the end of February, the trend reversed in mid-March. Holders unloaded approximately 140,000 AAVE, bringing the common holdings down from 3.74 million to 3.6 million.

Another large group of holders, wallets with between 1 million and 10 million tokens, saw their holdings rise from 2.58 million to about 3 million AAVE in March. However, that group has remained elevated with no major new gains.

AAVE reached its lowest price level since the October crash

The weakness in the chain coincides with contributor departures that have soured investor confidence. Market sentiment around Ave is “currently negative,” the analyst said. Thus, investors appear to be holding or locking in the remaining benefits.

“Aave has recently faced several structural challenges, pushing the protocol into a negative spiral, causing it to lose the important psychological level of $100 in March. Several internal disputes followed a series of events in the protocol, including the release of key contributors such as BGD Labs and recently wrote Chaosstly Anastly.

However, he emphasized that the trend is playing against a broader market backdrop that does not favor holding altcoins.

According to BeinCrypto Markets data, on April 7, the AAVE token fell to a daily low of $85.05, the lowest level since the October crash.

At press time, the altcoin was trading around $95, up roughly 2 percent against the broader crypto market following news of a two-week US-Iran ceasefire.

It remains to be seen if the relief pitching will hold or if more damage will follow.

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