The whale transaction is interesting. The user activity is even more interesting.

One wallet withdrew 39,018 $AAVE ($6.3M) from Kraken. 👀
But at the same time, Aave V4 crossed $1B in deposits.
That's the bigger signal for me.

Whale movements can change overnight. Sustained product usage is what tells you whether the ecosystem is actually growing.
$AAVE is worth watching for both.