Multicoin moves remaining 286,057 AAVE (~$26.7M) to Coinbase Prime after ~55% paper loss — move likely signals OTC exit
first published 2026-05-16T18:10:50Z
Multicoin Capital deposited all 286,057 remaining AAVE (≈$26.68M) into Coinbase Prime on May 16. The firm bought 338,005 AAVE in Oct–Nov 2025 at an average ~$218/token (≈$73.7M), leaving an unrealized loss of over $40M (~55%) with AAVE trading near $88–$90. Coinbase Prime deposits by institutions typically precede structured OTC exits; the transfer size relative to AAVE’s daily volume suggests any sale would likely be routed via OTC to minimize slippage and may indicate a shift from accumulation to offloading.
AI Analysis
Facts: Multicoin deposited 286,057 AAVE (~$26.68M) to Coinbase Prime; original position was 338,005 AAVE bought at ~$218 (~$73.7M); unrealized loss >$40M (~55%); AAVE trading near $88–$90; Coinbase Prime deposits typically precede structured OTC exits; transfer size vs daily volume suggests sales would be routed OTC to limit slippage.
Expected Investor Sentiment: Bearish
Potential Market Impact: Significant
