AAVE- Increased whale holdings before launch of upcoming stablecoin

Aave (AAVE) with over $3.8 billion TVL, is one of the top 5 DeFi protocols. It is a decentralized non-custodial liquidity protocol where users can participate as depositors or borrowers and functions in an algorithmic money market, i.e loans are provided through liquidity pools that are governed by smart contracts. Aave is also the first to launch ultra-short duration, uncollateralized flash loans.

 Recently AAVE V3 was launched to enable cross chain transactions, high efficiency mode for large transactions, gas optimisation and isolation mode for new assets. 

The upcoming GHO Stablecoin (speculative for Q1'22 release) is a decentralized, multi-collateralized stablecoin pegged to the U.S. dollar. It was proposed by the Aave in early July 2022 and approved by the Aave DAO and Technical Details were released on Oct'22.

Meanwhile majority of the token holders (more than 60% of entire supply), i.e holders with balances 10k-100k and 1M-10M tokens has increased holdings by 12% in past 4 weeks.


Would be interesting to keep AAVE in watchlist for the price action.