Aave (AAVE) exchange reserves have climbed to 2.23 million tokens, an increase of 160,000 since early February, as large holders moved their assets onto trading platforms.

"The movement of such a large volume of AAVE from private wallets to exchanges is a strong bearish signal," said a researcher at Arkham Intelligence. "It suggests that some of the largest holders are preparing to sell."

On-chain data shows that the total number of AAVE tokens on exchanges grew from 2.07 million in early February to 2.23 million by April 8, 2026. This increase has been attributed to several large transfers from wallets identified as belonging to AAVE whales.

The influx of AAVE onto exchanges increases the available supply for sale, which could lead to significant downward pressure on the token's price. The last time a similar volume of AAVE moved to exchanges in late 2025, the price of AAVE fell by over 20% in the following two weeks. The key support level to watch is around the $80 mark, a breakdown of which could see a further slide.

The Aave protocol, a major lending and borrowing market on the Ethereum blockchain, has a total value locked (TVL) of over $5 billion, according to DefiLlama. While the protocol itself remains one of the cornerstones of DeFi on Ethereum, the selling pressure from large holders could create short-term volatility for the AAVE token. The broader altcoin market has also seen increased profit-taking in recent weeks, with many tokens pulling back from their yearly highs.

This article is for informational purposes only and does not constitute investment advice.