Kraken's Parent Company Bought This Altcoin: New Purchases May Also Come

Kraken parent company Payward and its asset-management clients have purchased AAVE tokens on the open market to expand their DeFi exposure, with the company signaling that further purchases may follow. The buying was carried out through Payward-linked Digital Asset, according to CoinDesk. The move matters because it puts a major exchange operator's balance sheet and client capital directly behind AAVE, the governance token of the largest decentralized lending protocol. Watch for additional accumulation by Payward and related entities, and for whether the buying translates into sustained AAVE demand.