Key Takeaways:
The price of Aave’s native token (AAVE) fell below the critical $100 mark on Friday after on-chain data showed investment firm Multicoin Capital transferring 150,000 AAVE, worth approximately $14.92 million, to institutional trading desks.
“Multicoin Capital has transferred 150,000 AAVE ($14.92M) to Galaxy Digital OTC and BitGo,” on-chain analytics account Lookonchain reported in a post on X at 02:51 UTC on May 15, 2026. The transfers are widely interpreted as preparation to sell the tokens.
The transactions occurred as AAVE was already under pressure, having recently dipped below $90 amid broader market weakness and specific concerns around the protocol’s security. The large transfer to over-the-counter (OTC) wallets, which facilitate large trades without immediately impacting public exchange order books, suggests a strategic move by Multicoin to exit a significant portion of its position. The firm had previously accumulated 338,005 AAVE at an average price of $73, according to Lookonchain.
This move by a major fund creates significant headwinds for the AAVE token, potentially triggering further selling from retail investors and increasing short-term volatility. The event underscores the market’s sensitivity to large token-holder movements, particularly in the DeFi sector where liquidity can be fragmented. The next key support level for AAVE is now watched closely by traders, with sustained pressure potentially pushing the price back towards its recent lows near $90.
This article is for informational purposes only and does not constitute investment advice.
