BlockBeats News, December 22, According to on-chain analyst Yu Jin monitoring, this morning, the main reason for the price drop of AAVE was large-scale selling. The whale address, ranking second in AAVE holdings, sold 230,000 AAVE coins (approximately $38 million), causing a short-term price drop in AAVE. The whale converted all AAVE into 227.8 WBTC coins and 5869.4 stETH coins between 5:40 and 7:05 this morning. It is reported that these AAVE coins were purchased from the end of last year to early this year, with an average cost of about $223.4. This sell-off at an average price of around $165 is expected to incur a loss of $13.45 million.According to HyperInsight monitoring, due to the short-term price drop of AAVE this morning, the leading bullish whale (0x074) on Hyperliquid saw its unrealized loss expand to 176% today, with an average price of $189 and a holding size of about $1.2 million. This long position was opened on November 16.In early news today, the Aave community will open a vote on the "Brand Asset Control Transfer to Holders" ARFC proposal on Snapshot tomorrow at 10:40. The voting will continue until December 26. According to some analysis, this proposal is interpreted by the market as a "decentralized measure to transfer brand assets to DAO management," which, while causing concern, also partially eliminates future expectations of brand asset flexibility. This has led to a short-term repricing in the market.

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