On-chain data is sounding a short-term warning for $AAVE : around 156,000 AAVE have been transferred to exchanges, a move typically seen as a signal of distribution by whales or institutions. Combined with Bitcoin’s sharp drop triggering a cascade of altcoin liquidations, buying pressure may struggle to absorb the selling for now. While new narratives such as Aave V4 and equity-backed tokens offer long-term potential, these businesses are still at an early stage and are not yet enough to offset selling pressure in the near term. The current price is around 138 USDT, with 24-hour trading volume of about 233 million USDT and a market cap of roughly 2.13 billion USDT. In the short term, the key is not the narrative, but whether exchange inflows slow and the liquidation wave subsides. If the broader market continues to weaken, AAVE may repeatedly test support. Only as on-chain selling pressure eases and new businesses gradually deliver will AAVE be more likely to rebuild an upward trend.#Aave #DeFi