Multicoin Capital appears to have sold 150,000 AAVE tokens, worth approximately $14.91 million, to cut its losses.

CoinFeed reported on May 15th that, according to on-chain analyst Yu Jin, Multicoin Capital appears to have stopped its losses on AAVE. Multicoin Capital accumulated 338,000 AAVE tokens last November at a price of $219. One hour ago, it transferred 150,000 AAVE tokens ($14.91 million) to Galaxy Digital and BitGo. These AAVE tokens were subsequently dispersed from Galaxy Digital and BitGo to centralized exchanges such as Binance, OKX, Coinbase, and Bybit, which appears to be a sale. Based on the accumulation price of $219 and the sale price of $99, its estimated loss on AAVE is over $40.56 million (-55%).