Whales are selling off their holdings of DeFi tokens, taking profits after the sector reached a new peak in total market capitalization. The profit-taking reflects a trend in the whole sector, with DeFi tokens valued at $134 billion. Ethereum achieved stability, leading to the expansion of DeFi in the past year. However, as DeFi tokens sparked profit-taking, Ethereum was stabilizing at around $3,700. The altcoin season index increased, drawing out whales with short-term trading strategies. One whale wallet sold a significant amount of AAVE for a potential profit of $4.93 million. Another wallet focused on ENA, unstaking and depositing the tokens to Binance. Despite fewer mentions on social media, DeFi remains a staple in the crypto space. DEX activity started the new year with peak volumes, accounting for over 19.5% of centralized exchange volumes. The record supply of stablecoins also benefits DeFi, signaling expansion for the biggest lending protocols. ETH trading at $3,696.21 remains key for DeFi collaterals and DEX activity.



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