ChainThink report, December 22: According to HyperInsight monitoring, due to a brief downturn in AAVE price this morning, the long position held by the dominant whale (0x074) on Hyperliquid has seen its unrealized loss expand to 176% today, with an average entry price of $189 and a position size of approximately $1.2 million—this long was opened on November 16.

Additionally, according to chain analyst Yujin’s monitoring, the morning drop in AAVE price was primarily driven by large-scale sell-offs. The second-largest AAVE holder whale liquidated 230,000 AAVE tokens (worth roughly $38 million), triggering a short-term price decline. Between 5:40 AM and 7:05 AM, this whale converted all their AAVE into 227.8 WBTC and 5,869.4 stETH. The AAVE was acquired between late last year and early this year, with an average cost basis of approximately $223.4. Selling at a weighted average price of around $165, the whale is estimated to have incurred a loss of $13.45 million.

Early this morning, news emerged that the Aave community will launch a voting session on Snapshot tomorrow at 10:40 AM for the “Asset Rights Transfer to Token Holders” (ARFC) proposal, with voting set to conclude on December 26. Market participants interpret this proposal as a decentralized governance measure to transfer brand asset control to the DAO. While it has sparked concerns, it has also partially alleviated future elasticity expectations tied to brand assets, prompting short-term market repricing.