$13 Million in AAVE and MKR Tokens Withdrawn from Binance by Two Addresses

In a recent development that has caught the attention of the cryptocurrency community, two addresses, suspected to be owned by the same individual or entity, have made significant withdrawals from Binance, one of the world’s leading cryptocurrency exchanges.

Within a span of just 30 minutes, these addresses have withdrawn a staggering 108,961 AAVE tokens, equivalent to approximately $8.22 million. AAVE, the native token of the Aave protocol, is a decentralized finance (DeFi) platform that allows users to lend and borrow a diverse range of cryptocurrencies.

Trade on US-Banned Exchanges With No KYC 🤫

Tired of missing hot new listings because your favorite exchange is banned in the US? 🇺🇸

With RocketXchange you can finally trade on Kucoin, ByBit and more without registration or KYC! 🙌

Simply connect your wallet to access every coin. No VPN needed.

Seamlessly bridge between EVM, Solana, Cosmos and 100+ chains. Discover the next crypto gem with low fees.

Take your trading to the next level with:

  • Instant access to banned CEXs 🚫
  • No KYC required 🙅‍♂️
  • Trade on your terms – no registration required
  • Maintain full custody – tokens stay in your wallet
  • Access liquidity across leading DEXs and CEXs
  • Bridge assets quickly between any blockchain

Escape CEX limits today with RocketXchange!

Show more +

This withdrawal is not the first of its kind. The same addresses have previously made another substantial withdrawal. On June 1, they withdrew 7,466 MKR tokens, which were valued at $4.72 million at the time. MKR is the governance token of the MakerDAO and Maker Protocol, another key player in the DeFi space.

The price of MKR at the time of withdrawal was approximately $632. The timing and scale of these withdrawals have sparked speculation and discussion among crypto enthusiasts and experts.

While the identity of the owner of these addresses remains unknown, the scale of the transactions indicates a player with significant resources and a deep interest in DeFi tokens. The implications of these large-scale withdrawals on the price and liquidity of AAVE and MKR tokens are yet to be seen.

These large-scale withdrawals could have a variety of implications for both AAVE and MKR tokens. On one hand, they could indicate a strong belief in the long-term potential of these tokens, suggesting that the entity behind these transactions sees significant future value in holding these assets.

On the other hand, such substantial withdrawals could potentially impact the liquidity of these tokens on Binance, which may lead to increased price volatility in the short term. It’s also possible that these movements could signal a shift in investor sentiment towards DeFi tokens, reflecting a broader trend in the market. As always, these events highlight the dynamic and rapidly evolving nature of the cryptocurrency market.

intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com


Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

We will be happy to hear your thoughts

Leave a reply