Aave Founder Buys $12.6M in $AAVE Despite Losses

• 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.

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• Aave Founder Buys $12.6M in $AAVE Despite Losses