Aave Tokens Soar as $4.26 Million in WBTC is Swapped On-Chain

A recent large on-chain transaction involving Aave's native asset has caught attention. On September 29, two cryptocurrency addresses swapped 50.95 Wrapped Bitcoin (WBTC), worth about $4.26 million, for 25,502 AAVE tokens.

This move comes after AAVE reached a price of $167 on the same day, gaining 7.61% in four hours and 12.85% over 24 hours, according to prices recorded at 6:53 a.m. ET (10:53 UTC).

The swap adds to recent on-chain activity involving AAVE, including an earlier transfer of approximately 30,900 AAVE to a Uniswap liquidity pool.