Aave V4 Audit Success and Whale Accumulation Signals a Potential Rally to $400

The highly awaited V4 Audit Contest of Aave is officially completed. This is a significant achievement in the development process of the network. This contest received a good response from the security community, with a total of 918 researchers contributing to it. This was done to analyze the forthcoming V4 code.

Source: X

As per the announcement made, it has been stated that all results submitted have now entered into the judging process, whereby matters will be taken into consideration. Final results should follow shortly. It is important to note that the closing of the audit competition is a testament to the network’s commitment to ensuring that it is transparent, secure, and sound.

Also Read: AAVE V4 Introduces Risk Premium, Redefining How DeFi Lending Rates Work

AAVE Whale Buys $1.9M on Kraken, Sparks Bullish Signal

However, the data from Lookonchain revealed that a major whale in the crypto space known by the address 0xE9D has resurfaced after a period of dormancy lasting almost a month and has made a significant purchase of 11,089 tokens valued at approximately $1.9 million on the Kraken exchange.

According to on-chain analysis, the transaction can be seen as the beginning of the accumulation phase once again. Whale transactions are usually of great interest.

Source: X

This means that the total AAVE held by the whale after this transaction will be 355,093 tokens, valued at about $59.15 million based on the current market value.

It should be noted that the wallet also holds about $30 million in debt. This could be due to the leveraged nature of the wallet. This means that the whale’s subsequent actions will be worth keeping an eye on.

AAVE Eyes Full Bullish Reversal as Key Support Holds

AAVE is displaying strong indications that it is about to go fully bullish. It has managed to hold onto its key support level around $165, and currently it appears to be about to breach the key resistance in the overall downward trend. It is currently trading around $172 and is ready to move higher.

Source: X

Technical analysts are quite optimistic on both a short-term and long-term scale. On a short-term scale, the token may target $265 if it continues to move along its current trajectory.

Moreover, if it manages to break out successfully, it may reach $400 in the coming months. Due to buying pressure on critical points along with reachable points of resistance, the asset is turning out to be one of the most observed altcoins.

Also Read: AAVE Price Holds Support While DeFi Rewards Continue Growing Strongly