Blockchain Capital deposits $24.8M in AAVE to Coinbase, possibly signaling sale

An address believed to belong to Blockchain Capital has deposited 216,000 AAVE, worth $24.8 million, to Coinbase Prime, according to on-chain monitor EmberCN. The monitor noted that a week ago, ParaFi Capital sold its AAVE holdings to purchase SKY. EmberCN added that Blockchain Capital has been a long-term AAVE holder, having acquired 233,000 AAVE at an average price of $94 between October 2020 and March 2023. The firm previously sold 16,900 AAVE in December 2024.