- Stani Kulechov bought 32,660 more $AAVE worth $5.15M.
- Total weekly accumulation stands at 84,033 $AAVE ($12.6M).
- He’s currently facing a $2.2M unrealized loss.
Stani Kulechov, the founder of Aave, has continued his aggressive accumulation of the protocol’s native token, $AAVE. According to on-chain data, Kulechov added another 32,660 $AAVE tokens, valued at $5.15 million, to his holdings. This purchase adds to his already significant accumulation earlier in the week.
Over the past few days, Kulechov has purchased a total of 84,033 $AAVE tokens, worth approximately $12.6 million in total. The move signals a strong vote of confidence in the DeFi platform he created, especially during a time of fluctuating market sentiment.
Sitting on an Unrealized Loss
Despite his heavy investment, the Aave founder is currently facing a $2.2 million unrealized loss on his recent buys. This suggests that the average buying price was higher than the current market price, making it a bold bet in a volatile crypto market.
However, Kulechov’s decision to double down on $AAVE could be seen as a strategic long-term move. Founders purchasing large amounts of their own tokens often reflect deep belief in future growth, and can also help restore market confidence among investors.
What It Means for $AAVE Holders
While some may view this accumulation as a risky play, others may interpret it as a bullish signal. When key figures back their projects financially, it often attracts attention from traders and long-term holders alike.
Still, the $2.2 million paper loss highlights the risks involved, and market watchers will be keeping a close eye on $AAVE’s next moves.
Read Also :
- Aave Founder Buys $12.6M in $AAVE Despite Losses
- XRP Negative Sentiment May Signal Upcoming Rally
- Bitmine Immersion (BMNR) Announces ETH Holdings Reach 4.066 Million Tokens, and Total Crypto and Total Cash Holdings of $13.2 Billion
- Ghana Legalizes Crypto With New VASP Bill
- Crypto Funds See $952M Exit in Weekly Outflows
