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Big loss in $AAVE , Multicoin Capital may be fully exiting its AAVE position. 9 hours ago, the fund transferred its remaining 286,057 #AAVE ... worth roughly $26.68M , into Coinbase Prime.
This comes after reports that Multicoin was already sitting on losses exceeding $40M on the position, following large OTC purchases made near much higher prices.
With the entire remaining balance now moved to Coinbase Prime, the market will probably start watching closely for potential selling pressure or further distribution activity.
Address: 0x7915f9373Ae32d1fcAF0CdF17a532a3D8046D759