Aave Whale’s $37.6M Selloff Triggers 10% Price Drop Amid Governance Dispute

The price of Aave (AAVE) plummeted by approximately 10% on Sunday, December 21, after a major whale address sold 230,350 AAVE tokens for about $37.6 million within a few hours, settling the token around $161 by Monday morning. This significant selloff occurred amidst heightened uncertainty surrounding Aave's governance, specifically a proposal introduced by contributor Ernesto Boado to transfer control of Aave's brand assets to the DAO. Aave founder Stani Kulechov was accused of rushing the proposal to a Snapshot vote without allowing the community adequate discussion time. Boado himself distanced himself from the rushed vote, calling the attempt to expedite it "disgraceful." This governance dispute and the resulting uncertainty about the proposal's outcome are speculated to have contributed to the whale's decision to liquidate such a large position.

(Source：CCN)