The cryptocurrency world is waiting for the Fed to start interest rate cuts as soon as possible for the rises, while September started with a decline, as in the statistics. While Bitcoin fell below $56,000 last night, the meltdown in altcoins was much higher.

The market capitalisation of the altcoin index known as TOTAL3, which excludes Bitcoin, Ethereum and stablecoins, has dropped to $540 billion.

The whale could not stand it and sold

An investor who bought more than $4 million worth of AAVE during the bullish periods of 2021 sold at a huge loss at the end of his 3.5-year wait.

According to the information provided by on-chain tracking platform Lookonchain, the investor, who had 17447 AAVE worth $2.1 million, sold all of these tokens he bought in March and July 2021. The total loss was $2.14 million.

While the average of the whale is around $246, the current price of AAVE is at $129. AAVE, one of the most important and most used DeFi tokens, dropped to $50 in the crypto winter of 2022.