Multicoin Capital suspected of selling 150,000 AAVE units for US$99 and expected losses of more than US$40.56 million

On May 15, according to online analyst Ember Monitoring, Multicoin Capital suspected of stopping losses AAVE. Multicoin Capital hoarded 338,000 AAVE units in November last year for $219. An hour ago, it transferred 150,000 AAVEs (US$14.91 million) to GalaxyDigital and BitGo. Subsequently, these AAVEs were distributed from GalaxyDigital and BitGo to centralized exchanges such as Binance, OKX, Coinbase, and Bybit, which should be sold. Based on $219 hoarding and $99 selling, its loss on AAVE is expected to exceed $40.56 million (-55%).