How much did Multicoin Capital lose on $AAVE?

Multicoin Capital is down more than $40 million on $AAVE after accumulating 338,005 $AAVE at an average price of $218 between Oct. 13 and Nov. 25, 2025.

How much $AAVE did Multicoin transfer out?

Over a five-hour window, Multicoin transferred roughly 150,000 $AAVE (~$14.92M) to Galaxy Digital's OTC wallet and BitGo, likely to sell.

Where did Multicoin's $AAVE originally come from?

All 338,005 $AAVE were received from Galaxy Digital's OTC wallet during the Oct. 13 to Nov. 25, 2025 accumulation period.

What is the average buy price for Multicoin's $AAVE position?

Multicoin accumulated the 338,005 $AAVE at an average price of $218 per token, per the on-chain footprint.

What would confirm Multicoin is still selling $AAVE?

Continued outflows from Galaxy Digital's OTC wallet and BitGo would confirm further distribution and likely weigh on any near-term $AAVE rebound.

🩸BEARISH 46d ago

Lookonchain

Multicoin dumps 150K $AAVE as $40M loss deepens

The fund's October-to-November accumulation is now underwater by more than half, and on-chain flows show 150,000 $AAVE leaving its wallet toward Galaxy Digital OTC and BitGo in a five-hour window.

Zipp Editorial Aggregated from Lookonchain

Multicoin dumps 150K $AAVE as $40M loss deepens

Multicoin Capital is sitting on losses exceeding $40 million on $AAVE after transferring roughly 150,000 $AAVE ($14.92M) to Galaxy Digital's OTC wallet and BitGo over the past five hours, likely to sell.

Between Oct. 13 and Nov. 25, 2025, Multicoin received 338,005 $AAVE ($73.7M) from Galaxy Digital's OTC wallet at an average price of $218. The position is now underwater by more than half.

Why it matters

Multicoin's $AAVE build was one of the more visible altcoin accumulations by a crypto-native fund during the Q4 rally, and the on-chain footprint of the buys — sourced from a single OTC counterparty — made the position easy to track in real time. A forced exit at this scale, with losses north of $40M, is the kind of flow that pressures perps funding and dealer inventory on the way down.

Market impact

A 150,000 $AAVE move to OTC and BitGo in a single five-hour window signals intent to sell into market or OTC bids rather than sit on the bag. Watch Galaxy's OTC wallet and BitGo for the next leg; further outflows would confirm the distribution and likely cap any near-term $AAVE rebound.

$AAVE #MulticoinCapital #GalaxyDigital #InstitutionalFlow

Frequently asked questions

How much did Multicoin Capital lose on $AAVE?

Multicoin Capital is down more than $40 million on $AAVE after accumulating 338,005 $AAVE at an average price of $218 between Oct. 13 and Nov. 25, 2025.
How much $AAVE did Multicoin transfer out?

Over a five-hour window, Multicoin transferred roughly 150,000 $AAVE (~$14.92M) to Galaxy Digital's OTC wallet and BitGo, likely to sell.
Where did Multicoin's $AAVE originally come from?

All 338,005 $AAVE were received from Galaxy Digital's OTC wallet during the Oct. 13 to Nov. 25, 2025 accumulation period.
What is the average buy price for Multicoin's $AAVE position?

Multicoin accumulated the 338,005 $AAVE at an average price of $218 per token, per the on-chain footprint.
What would confirm Multicoin is still selling $AAVE?

Continued outflows from Galaxy Digital's OTC wallet and BitGo would confirm further distribution and likely weigh on any near-term $AAVE rebound.

Source attribution

Aggregated from Lookonchain · Verified · Last refreshed 46d ago

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