On-chain data reveals that Multicoin Capital has executed a significant purchase of an additional 60,000 AAVE tokens, valued at approximately $10.68 million. This transaction was facilitated through Galaxy Digital's over-the-counter (OTC) desk, signaling continued strong institutional conviction in the DeFi protocol. With this latest acquisition, the firm's total holdings have reached approximately 338,000 AAVE. The accumulation has been ongoing since mid-October, suggesting a strategic long-term position. Despite the aggressive buying, the position is currently estimated to be sitting on a floating loss of approximately $13.5 million to $13.8 million, with an average entry price estimated around $219. [Update 1] Additional on-chain analytics confirm the transaction details, noting that the specific wallet address involved has now accumulated a total of 338,005 AAVE. The analytics highlight that despite the current unrealized loss, the entity continues to hold with high conviction.