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Multicoin Capital moves entire $26.7M AAVE holdings to Coinbase Prime amid $40M loss

Market News
16 May 2026, 21:10 WIB
Bitcoin
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Bearish
Multicoin Capital moves entire $26.7M AAVE holdings to Coinbase Prime amid $40M loss

Multicoin Capital transferred all 286,057 of its AAVE tokens, worth about $26.7 million, to Coinbase Prime, signaling a likely exit from the position. The fund originally bought 338,005 AAVE tokens at an average price of $218 each in late 2025, but the price has since dropped nearly 60% to around $89, resulting in an unrealized loss exceeding $40 million. This large transfer to Coinbase Prime, known for handling big OTC trades, suggests Multicoin is preparing to sell off its remaining AAVE holdings. The move highlights challenges in DeFi tokens despite Bitcoin's strong performance in 2026.

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