Whales Accumulate Millions of 1INCH and AAVE Tokens, Bitcoin (BTC) Stashed Between $56k-$58k

Two Ethereum (ETH)-based decentralized finance (DeFi) altcoins are rallying after whales scooped up large amounts of the projects' tokens

Two Ethereum (ETH)-based decentralized finance (DeFi) altcoins are rallying after large purchases by crypto whales, according to the crypto tracker Lookonchain.

The governance token of decentralized exchange (DEX) aggregator 1inch (1INCH) is up double digits after a large purchase.

According to Lookonchain, a wallet linked to the investment fund that created the 1inch DEX purchased 7.96 million 1INCH, valued at $1.75 million.

Since July 5th, the wallet has purchased a total of 22.4M 1INCH, valued at $5.49 million, at an average price of $0.25.

1INCH is trading for $0.28 at the time of writing, up more than 26% in the last 24 hours. It has a market cap of over $358.9 million.

Next, Lookonchain reports that one whale has now accumulated over $6 million of the governance token for the lending protocol Aave (AAVE). AAVE is trading for $137 at time of writing, up 12.5% in the last 24 hours, with a market cap of $2.05 billion.

“This whale bought 50,604 AAVE ($6.78 million) again [September 4th] and currently holds 125,605 AAVE ($16.9 million) with an average buying price of $134.6.”

According to Lookonchain, another deep-pocketed investor has been buying large amounts of Bitcoin (BTC) from September 2nd to September 4th.

“A whale bought 545 BTC ($30.82 million) again after the BTC price dropped! This whale has bought 862 BTC ($49 million) from the bottom at an average price of $56,993 in the past three days.”

Bitcoin is trading for $58,399 at the time of writing.

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