Aave rate takes double-digit hit, but genuine fundamentals trace eventual restoration

Aave rate takes double-digit hit, but genuine fundamentals trace eventual restoration

Aave, the governance token of the decentralized finance (DeFi) Aave protocol, experienced a 17% decline between July 30 and August 1, reaching the $62 stage.

Whereas the $62 enhance has demonstrated its resilience, the most modern rate of $64.40 is quiet 12% below the day-to-day shut on July 30. Investors are genuinely questioning whether this circulation signifies a extra cautious potential to the sphere or if other factors are exerting stress on the Aave (AAVE) token rate.

<em>AAVE rate index, 12-hour chart. Source: TradingView</em>
<em>Total payment locked (TVL), USD. Source: DefiLlama</em>
<em>Collateralized debt, yield and lending protocols&#8217; income crude. Source: DefiLlama</em>

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