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By acquiring 5 million CRV tokens at the current price, this proposal seeks to send a powerful signal of solidarity within the DeFi space. Additionally, it would strategically position the Aave DAO in the ongoing “Curve wars,” while also bolstering the liquidity of Aave's decentralized multi-collateral stablecoin, GHO.
The proposal drew mixed reactions from the community where some criticized the strategy for buying more CRV even as others are looking to shed exposure.
The Aave Chan Initiative, introduced within the Aave governance forum, suggested acquiring $2 million worth of curve tokens (CRV) from Michael Egorov, the founder of Curve. Spearheaded by Marc Zeller, the creator of Pandemic's blockchain consultancy firm and a key player in Aave Companies, the initiative is a delegate platform that operates closely with Aave.
Whales are starting to accumulate various tokens across the crypto sector in an attempt to diversify their portfolio. NFT, Lending and Liquid Staking tokens have become key areas of focus.
Aave Chan Initiative's Marc Zeller proposed that Aave's treasury should purchase $2 million of CRV from Curve founder Michael Egorov.
AAVE price may have been impacted by this week's Curve Finance scandal, but a robust insurance fund and steady fee revenue could protect against further downside.
An ongoing crisis situation stemming from a large curve token collateral can be prevented by pausing all borrowing activity, Gauntlet argued in a Wednesday protocol.
Bitcoin (CRYPTO: BTC) traded lower, with the cryptocurrency prices falling below the key $29,000 level on Tuesday. Ethereum (CRYPTO: ETH) also moved lower, trading below the key $1,900 mark this morning.
Curve Finance suffered a significant exploit over the weekend, with attackers managing to siphon off around $70 million worth of assets from users. Curve founder Michael Egorov has a loan of around $70 million in USDT on Aave v2, using CRV as collateral.
Key Points: Justin Sun has made a strategic decision to withdraw approximately 52.5 million stablecoins from the decentralized lending platform, AAVE. The sizable withdrawal consists of approximately 40.7 million USDT and 11.7 million USDC, stirring curiosity and speculation in the crypto community.
AAVE hit a crucial demand and confluence zone which could present buying opportunity, but
Curve Founder Michael Egorov's $168M in holdings is under stress, imperiling DeFi as a whole. PLUS: The Litecoin Foundation and crypto cold-storage card manufacturer Ballet HAVE teased a sale of 500 collectable cards – fashioned from 50 grams of fine silver.
Decentralized exchange Curve Finance saw exploits of over $70 million on Sunday, caused by a Vyper reentrancy lock malfunction.
The stablecoin GHO, created by DeFi platform Aave, lost its $1 peg for a few hours on July 31. The token has risen to $0.98 since then, and analysts are theorizing what might have caused the depeg.
Aave's AAVE token, a prominent cryptocurrency in the decentralized finance (DeFi) space, has been garnering attention from investors and traders alike. In the past 24 hours, AAVE experienced a notable 3.91% price surge, reaching $72.88, after a minor 1.11% pullback during the week.
In the ever-evolving landscape of cryptocurrencies, Aave's native token, AAVE, has emerged as a significant player, captivating the attention of traders and investors alike. Over the last 24 hours, AAVE experienced a slight dip of 3.07%, settling at $69.40.
Aave's price surged to $88 just two weeks ago, but currently, the altcoin is experiencing a correction. Over the past 24 hours, Aave has dropped over 4%, and on the weekly chart, it has depreciated more than 7%.
The market structure of AAVE was bullish and the recent higher low at $68.7 would need to be broken before the structure flipped bearishly.
Aave's V3 launched on Ethereum in January, and the DeFi protocol's TVL has since grown significantly.
Web3 social layer Lens Protocol aims to power seamless connectivity of applications across blockchain and non-blockchain platforms.
ave's Q2 2023 report shows a 9% growth in total value supplied, outpacing the market. Key developments include the launch of GHO stablecoin, a rise in stETH deposits, and the anticipated release of Portals.
Lending and borrowing platform Aave (AAVE) has launched a new decentralized stablecoin on the Ethereum (ETH) mainnet. The dollar-pegged stablecoin, called GHO (GHO), is governed by the Aave decentralized autonomous organization (DAO). Nader Dabit, the director of developer relations at Aave, says that GHO is an “overcollateralized” stablecoin.
Celsius, a crypto lending platform that went bankrupt in July 2022, began the process of liquidating its assets yesterday, selling $60 million in LINK, MATIC, SNX and AAVE.
Aave Companies has unveiled version two of its Lens Protocol and introduced several new features for the web3 social app. Lens Protocol Now Allows Blocking Lens Protocol's parent organization, Aave Companies, has launched the much-anticipated V2 of the web3 social app.
