According to @OnchainDataNerd, roughly 7 hours ago a wallet, reported by the source as possibly linked to the Ethena team, withdrew 26.8k AAAVE (~$4.03M) and then deposited 17.9k AAVE (~$2.68M) to Binance and Bybit; address: https://t.co/ed7UCFOEd6. Source: @OnchainDataNerd. Exchange deposits of this magnitude are commonly interpreted by traders as potential sell-side supply that can pressure near-term AAVE price and increase volatility. Source: Glassnode research on exchange inflows and sell pressure (2023). The claimed Ethena association is unverified and is relayed as reported by the original on-chain analyst; traders should treat the label as tentative. Source: @OnchainDataNerd.