Multicoin Capital Acquires AAVE: Institutional Confidence Drives Major Investment

A significant move by institutional investor Multicoin Capital has boosted its AAVE holdings, leading to speculation about the DeFi protocol’s stability. 60,000 AAVE tokens worth approximately $10.68 million were acquired on November 26th through Galaxy Digital’s OTC desk. This action bolsters their already substantial portfolio and demonstrates institutional confidence in AAVE despite unrealized losses.