Kenne Michael 
According to Lookonchain’s monitoring data, the investor acquired these tokens in 2020 and 2021 and then sold them at a time when their current value was approximately $697,000.
In the years 2020 and 2021, the investor withdrew 12,612 AAVE tokens from the cryptocurrency exchange Binance using an address previously identified and associated with substantial activity.
An early holder of $AAVE dumped 12,500 $AAVE ($697K) bought in 2020 and 2021 at a loss.
This guy withdrew 12,612 $AAVE ($2M at the time) from #Binance in 2020 and 2021 with an average withdrawal price of $159.
Then deposited to #Binance 16 hrs ago with a loss of ~$1.3M. pic.twitter.com/0wkOuuiTbv
— Lookonchain (@lookonchain) August 22, 2023
The approximate value of these tokens at the time of withdrawal was approximately $2 million. These transactions’ calculated mean withdrawal price was roughly $159 per token. These actions initially intrigued the cryptocurrency community, prompting inquiries into the investor’s underlying motivations.
In addition, this same address initiated a deposit of identical tokens into Binance just sixteen hours before the transaction mentioned above. This recent maneuver resulted in a loss of approximately $1.3 million, highlighting the persistent volatility and inherent risks associated with cryptocurrency investments.
This particular instance, which is notable due to the size of the transaction and the investor’s prior performance, serves as a profound reminder of the volatile nature of the cryptocurrency market. Therefore, regardless of their experience level, investors should exercise caution and conduct exhaustive investigations before making financial decisions within the volatile cryptocurrency landscape.