{"id":72613,"date":"2026-05-16T18:40:51","date_gmt":"2026-05-16T18:40:51","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/multicoin-capital-sends-entire-aave-stack-to-coinbase-prime-after-40m-loss-deepens\/"},"modified":"2026-05-16T18:40:51","modified_gmt":"2026-05-16T18:40:51","slug":"multicoin-capital-sends-entire-aave-stack-to-coinbase-prime-after-40m-loss-deepens","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/multicoin-capital-sends-entire-aave-stack-to-coinbase-prime-after-40m-loss-deepens\/","title":{"rendered":"Multicoin Capital Sends Entire AAVE Stack to Coinbase Prime After $40M Loss Deepens"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<p><span style=\"font-weight:400\"><\/p>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Multicoin Capital deposited all 286,057 AAVE tokens ($26.68M) into Coinbase Prime on May 16.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">The fund bought 338,005 AAVE at an average of $218 per token in late 2025, now down nearly 60% to $88.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Coinbase Prime deposits by institutional funds historically tend to precede large structured OTC exits.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p><\/span><\/p>\n<h2><span style=\"font-weight:400\">How the Position Was Built<\/span><\/h2>\n<p><span style=\"font-weight:400\">Onchain data shows Multicoin Capital transferring its entire remaining Aave (AAVE) position of 286,057 tokens into Coinbase Prime. At AAVE\u2019s current price of approximately $89, the batch is worth roughly $26 million. <\/span><span style=\"font-weight:400\">The move comes after what has become one of the more costly public trades of the current cycle for a major <span>crypto<\/span> fund.<\/span><\/p>\n<p><span style=\"font-weight:400\">As <span>Bitcoin.com<\/span> News <a href=\"https:\/\/news.bitcoin.com\/multicoin-capital-aave-loss-galaxy-digital-2026\/\">previously reported<\/a>, Multicoin Capital accumulated 338,005 AAVE tokens between October 13 and November 25, 2025, routing purchases through Galaxy Digital\u2019s <span>over-the-counter<\/span> (OTC) desk. The fund spent approximately $73.7 million to build the position at an average price of $218 per token.<\/span><\/p>\n<figure id=\"attachment_814528\" aria-describedby=\"caption-attachment-814528\" style=\"width:1670px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-814528\" class=\"wp-caption-text\">Onchain data showing Multicoin depositing its remaining 286,057 AAVE to Coinbase Prime.<\/figcaption><\/figure>\n<p><span style=\"font-weight:400\">Aave (AAVE) is the governance and fee-sharing token of the Aave protocol, the largest <span>decentralized finance<\/span> ( <span>DeFi<\/span>) lending platform by total value locked. Multicoin\u2019s thesis likely centered on Aave\u2019s continued growth as <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-defi-decentralized-finance\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">DeFi<\/a> activity scaled in a new bull cycle, a bet that has not paid off. Despite <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a> surpassing $100,000 in 2026, <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-defi-decentralized-finance\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">DeFi<\/a> governance tokens broadly underperformed the bitcoin-led market.<\/span><\/p>\n<h2><span style=\"font-weight:400\">The Losses<\/span><\/h2>\n<p><span style=\"font-weight:400\">With AAVE near $90, Multicoin\u2019s original 338,005-token position is worth approximately $31 million against an outlay of $73.7 million, resulting in an unrealized loss of over $40 million (a 55% drawdown from entry).<\/span><\/p>\n<p><span style=\"font-weight:400\">Earlier in May, the fund moved portions of its AAVE to Galaxy Digital OTC wallets and BitGo, leading many to believe it was a staged exit. The May 16 deposit moves the full remaining balance to Coinbase Prime in a single transaction, bolstering the sentiment further.<\/span><\/p>\n<p><span style=\"font-weight:400\">The 286,057-token batch is significant relative to AAVE\u2019s average daily <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-trading-volume\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">trading volume<\/a>, and any sale of that size would likely be broken up and routed through OTC channels to minimize slippage, exactly the transaction type Coinbase Prime is built to handle.<\/span><\/p>\n<p><span style=\"font-weight:400\">With Aave\u2019s price being range-bound between $88 and $100 for several weeks, a transfer of this magnitude could represent a fundamental shift from accumulation to offloading on Multicoin\u2019s behalf.<\/span><\/p>\n<p> <!-- --><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/multicoin-capital-aave-coinbase-prime-2026\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Multicoin Capital deposited all 286,057 AAVE tokens ($26.68M) into Coinbase Prime on May 16. The fund bought 338,005 AAVE at an average of $218 per token in late 2025, now down nearly 60% to $88. Coinbase Prime deposits by institutional funds historically tend to precede large [&hellip;]<\/p>\n","protected":false},"author":3947362404,"featured_media":72614,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/72613"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362404"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=72613"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/72613\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/72614"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=72613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=72613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=72613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}