Multicoin Capital: Shifts 286K AAVE to Coinbase Prime

Multicoin Capital routed 286000 AAVE tokens valued at $26.68 million into Coinbase Prime after pulling 98000 AAVE from multiple exchanges five hours earlier and combining them with 188000 AAVE already held in the wallet.

The move follows yesterday’s transfer of 150000 AAVE worth $14.91 million through Galaxy Digital and BitGo onto exchanges that coincided with an AAVE slide from $99 to $92. Galaxy later withdrew 98000 AAVE back to the Multicoin address, allowing a modest rebound toward $93 before the latest deposit.

Price action on the 4h chart shows AAVE trading at $94.66 inside the Bollinger Bands with upper resistance at $100.25 and lower support at $92.91. The EMA50 at $96.61 and EMA200 at $96.02 both act as overhead resistance while the MACD death cross at -0.75 confirms bearish momentum and the RSI at 42.17 remains neutral, suggesting any push toward the upper band will likely stall and retrace toward the 50-EMA before the next directional leg.