BlockBeats news, December 22, according to HyperInsight monitoring, affected by the short-term decline of AAVE this morning, the floating loss of the main long whale (0x074) on Hyperliquid expanded to 176% today, with an average price of $189 and a position size of approximately $1.2 million. This long position was opened on November 16.
Additionally, according to on-chain analyst Yu Jin’s monitoring, the main reason for the AAVE price drop this morning was large holder selling. The second-largest whale address by AAVE holdings sold 230,000 AAVE (approximately $38 million), causing a short-term decline in AAVE price. Between 5:40 AM and 7:05 AM, this whale exchanged all AAVE for 227.8 WBTC and 5,869.4 stETH. It is reported that these AAVE were purchased from late last year to early this year, with an average cost of about $223.4. Clearing the position at an average price of approximately $165 resulted in an estimated loss of $13.45 million.
Earlier today, news indicated that the Aave community will start the “Brand Asset Control Transfer to Token Holders” ARFC proposal vote on Snapshot tomorrow at 10:40, with voting lasting until December 26. The market interprets this proposal as a “decentralization measure to transfer brand assets to DAO management,” which, while raising concerns, also partially eliminates expectations of future flexibility related to brand assets, leading to short-term market repricing.
