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In a groundbreaking move, Aave's community governance has taken decisive steps to optimize the protocol's Ether (ETH) holdings. By converting a substantial amount of ETH into wstETH and rETH, Aave aims to maximize the value of its assets and generate additional yield.
In a recent development, Aave's vibrant community governance has made significant strides toward optimizing the protocol's Ether (ETH) holdings. By converting 1,600 ETH (equivalent to approximately $3 million) into wstETH and rETH, Aave aims to put its idle assets to work and maximize the value for its participants.
The AAVE price has increased by 3.07% in the last 24 hours. But can it reach $100?
In an effort to put idle ether to work, Aave's community governance has voted to convert 1,600 ETH (roughly $3 million) into wsETH and rETH held in the Ethereum Collector Contract.
Uniswap's token has risen by 3.80% in the past 24 hours even while ethereum is down by about 1%. Aave is up some 13% in the past week while eth has fallen by about 2%.
AAVE's bullish revival has seen the crypto lending token almost reverse all of its Q2 losses.
Bankrupt crypto lender Celsius Network has begun the process of swapping altcoins for Bitcoin (BTC) and Ethereum (ETH). The recent court approval (June 30) granted the company permission to convert its altcoin holdings into the two leading digital assets, raising concerns about a potential sell-off of popular altcoins.
A majority of Aave token holders have voed in favor of the governance proposal.
Amid the recent recovery in the crypto market, the Defi Tokens recorded significant growth. As a result, the associated tokens like AAVE showcased a massive upswing and restored recovery sentiment among traders.
The market might have found a local peak as the rates of most of the coins are in the red zone.
AAVE, one of the most prominent DeFi tokens, has made a bright start to July. The coin is experiencing a price rally, jumping by more than 26% in the past week.
New Governance proposal for Aave, the DeFi industry's main lending protocol, in which the community is called to a vote to decide how to manage treasury capital.
A proposal on Aave DAO to move $3 million in ETH from the treasury into wrapped staked ETH and rocket pool ETH is active in the project's governance forum.The proposal with 252,152 votes in favor argues that converting 1,600 ETH to liquid staking derivatives will earn higher yield for the protocol.Staking wstETH would earn 3.8% yield and 3.13% by staking rETH while retaining liquidity for the DeFi service, the proposal noted. Aave DAO members are voting on a proposal to earn higher yield by converting 1,600 unstaked Ether (ETH) from the DeFi platform's treasury into two liquid staking derivatives – wrapped staked ETH (wstETH) and rocket pool ETH (rETH).
Holders of Aave, the token that underpins its namesake's decentralized finance (DeFi) protocol, are taking part in a governance vote that will decide whether 1,600 ether (ETH) in the protocol's treasury will be converted to wrapped staked ether (wstETH) and rocket pool ether (rETH).
Bitcoin Cash and Litecoin continue to lose momentum, as both are down by over 3% for a second consecutive day.
Aave suspends TUSD reserves on its platform as it takes strict measures to safeguard users. However, activity on the protocol continues to decline.
Bitcoin's narrow range trading may end soon and if an upside breakout happens. Meanwhile, LTC, XMR, AAVE and MKR are showing strength.
A community proposal on Aave wants to freeze the True USD (TUSD) reserve on the Aave V2 Ethereum pool. The stablecoin has recently faced increased issues over its ownership structure.
A slew of decentralized finance (DeFi) projects skyrocketed this past week, outperforming Bitcoin's (BTC) already-bullish price action. Several of the surging DeFi altcoins started to retrace on Monday, however. Aave (AAVE), a lending and borrowing DeFi protocol, is up over 27% in the past seven days but down by nearly 1.
AAVE, one of the most prominent DeFi tokens, is currently experiencing a market pump, gaining 28.33% in the last 7 days, according to CoinMarketCap data. Over the past week, most of the crypto market has seen a boost in prices following the Bitcoin-fueled recovery, which also saw the premier cryptocurrency trade above $31,000 for the first time since June 2022.
The past 24 hours have witnessed substantial price increases for Uniswap (UNI), Aave (AAVE), and Curve Finance (CRV). According to CoinGecko, AAVE's value skyrocketed by 27.2%, UNI saw a rise of 10.9%, and CRV surged by 8.7%.
Aave, propelled by influential investors and captivating whale activities, emerges as the dominant cryptocurrency, signaling a thrilling 24-hour journey of surges and shifts.
The decentralized finance (DeFi) sector is witnessing a surge in performance as top tokens like Uniswap, Aave, Compound, and Synthetix achieve impressive double-digit gains. In contrast, obscure memecoins and Bitcoin have dominated recent market attention.
Indeed, although the platform is continuing to develop fully and consistently, the price behavior does not seem to reflect its progress. However, there are several plausible reasons for this.
