Curve DAO's CRV Token Drops 12% Due to Risky Loans by Founder on Aave, Faces Liquidation Threat
June 16 (Cointime) - Curve DAO's governance token, CRV, saw a 12% decline on June 15 following reports of its founder, Michael Egorov, taking risky loans on Aave. Egorov deposited 431 million CRV, which accounts for over 50% of the token's circulating supply, across various decentralized lending protocols and borrowed $101.5 million in stablecoins. According to DeFiLlama data,
Wallet Linked to Curve Founder Repays $1.3M to Aave Amid CRV Token Decline
June 15 (Cointime) - The founder of Curve Finance, Michael Egorov, has sent $1.3 million worth of tether (USDT) from his wallet, which is linked to a large debt taken from Aave. This partial payback eases the risks associated with the loan, which has drawn attention from some members of the Crypto Twitter community. Egorov's wallet currently holds over 288.7 million Curve DAO (CRV) tokens, valued at $167 million, and has around 60.7 million USDT borrowed against it. The open position has a health rate of 1.55, but will be automatically liquidated if it drops below 1.00.
DeFi Risk Management Project Advises Aave to Freeze Curve DAO Tokens Linked to Michael Egorov's Loan Position
June 15 (Cointime) - Gauntlet, a DeFi risk management project, has advised Aave's governance body to freeze Curve DAO Tokens associated with a loan position linked to Curve Finance founder Michael Egorov. Gauntlet is a contributor to Aave and focuses on strengthening the platform's security.
Founder of dForce: The Founder of Curve Mortgages a Large Amount of CRV and Borrows Stable Coins, Which Is Extremely Risky
Mindao, the founder of dForce, said in a post, “The founder of Curve has deposited more than 33CRV coins in Aave and borrowed 71 million stable coins. This is a great risk to Curve’s ecology and Aave. The risk is intensifying. AaveV2 has no deposit limit, which makes it impossible to control the collateral exposure. The only thing that can be done is to increase the cost of USDT borrowing. Mortgaging your own currency for leverage seems to be a reluctance to sell, but it is actually a kind of tempting short.
A Giant Whale Deposited 25,000 stETH Into Aave, Lent 35 Million USDT and Transferred It to Binance
Lookonchain monitoring data shows that in the past 24 hours, anonymous giant whales deposited 25,000 stETH (about 43 million U.S. dollars) into Aave, and then lent 35 million USDT and transferred them to Binance.
Lens Protocol Raises $15M To Create Decentralized Social Networking Ecosystem
Lens Protocol, a decentralized social networking ecosystem, has raised $15 million in funding from investors including IDEO CoLab Ventures, General Catalyst, Varian, and Blockchain Capital, as well as angel investors such as Uniswap CEO Hayden Adams and OpenSea co-founder Alex Atallah. The protocol is being developed by Aave, a web3 technology firm that allows users to lend and borrow crypto tokens.
ETH Whale Holder Lends 40 million USDT via Compound and Aave
According to Lookonchain news, ETH Whale pledged 16,100 ETH (about $30 million) and 16,500 ETH (about $31 million) at Compound and Aave respectively, and then lent 20 million USDT each, for a total of 40 million USDT to be topped up to the address beginning with 0x3356. Among them, 10 million USDT was withdrawn to the Cryptocurrency exchange.
AAVE Proposal for “BUSD Off-boarding Plan Part II” will Start on 6th Jun
This AIP proposes to change the InterestRate Strategy the BUSD reserve on the Aave V2 Ethereum pool and withdraw POL aBUSD from Aave V2 Ethereum Pool.
Aave Turns Profitable After Long Losses, TVL Reaches Over $5 Billion
Aave, a DeFi platform, has been struggling to generate profits and accumulating losses. However, recent data has shown that the platform is now generating positive earnings, with a notable growth of over 96% over the past year. Despite the improved profitability, the revenue and fees on the network have remained relatively stable, with only one prominent surge in fees and revenue occurring in March. Aave's Total Value Locked (TVL) has exhibited a slight but noticeable upward trend, and the AAVE token has experienced an uptrend in recent days, although its value has declined slightly since then.
Aave Considers Implementing Version 3 on Coinbase-Backed Layer 2 Blockchain Base
Aave's governing forum is considering the implementation of its version 3 on Base, a Layer 2 blockchain supported by Coinbase. The proposal was put forward by Francis Gowen, a protocol specialist at Flipside Crypto and a delegate and contributor to Aave.
Aave Price Predictions for 2023-2032: Potential Highs and Lows, Market Sentiment, and Latest Updates
Aave's price is expected to increase over time, with predictions ranging from a minimum of $186.05 to a maximum of $3,374.63 by 2032. The current price is $64.9, with a 24-hour trading volume of $130.08M and a market cap of $932.87M. Despite a recent 1.5% decrease, analysts predict continued growth for Aave, with some forecasting a price of $500 in 2024. Aave is a decentralized lending and borrowing platform that has remained stable during market turmoil and recently launched a decentralized stablecoin called GHO.
ChainAegis: AAVE V2/V3 On-Chain Data Analysis
On January 27th, 2023, the DeFi lending protocol Aave announced that its V3 version had been deployed on the Ethereum network.
Investors Turn to DigiToads and Aave for Long-Term Gains Amid Crypto Market Volatility
The recent volatility in the crypto market has left investors disappointed in Bitcoin and Ethereum. Despite Ethereum's increased burning rates, investors remain uncertain about its future. However, DigiToads has raised over $3 million in presales and Aave has gained significant interest from investors, making both coins attractive for long-term portfolio diversification. DigiToads is a revolutionary token that aims to enrich the DeFi market by offering a user-friendly platform for players to collect, trade, and battle other users, making it a great investment opportunity. It is important to conduct your own research before investing in any cryptocurrency or project. As Bitcoin and Ethereum struggle, investors are turning to promising projects like DigiToads and Aave for long-term gains. This article was originally published on The VR Soldier and includes a sponsored press release.
Pepecoin's Rally Loses Steam After Binance Listing, Ether Volatility Hits Lifetime Low, Aave to Deploy V3 on Metis Network
Pepecoin's rally has slowed down after being listed on Binance, with the token trading at around $0.0000022 at press time. Profit-taking by early investors is likely the cause of the sharp pullback in PEPE. The volatility expectations in market leaders Bitcoin and Ether continue to dwindle despite lingering macroeconomic uncertainty. The Aave community has voted to deploy its version 3 on the Ethereum layer 2 ecosystem Metis Network, which is likely to bring more liquidity on both platforms and provide liquidity mining incentives to Aave users. Bitcoin's price has dived out of its recent triangular consolidation, which analysts predict might yield a deeper sell-off.
Defi Market Holds Steady at $49.31 Billion TVL, Lido Finance Leads the Pack With 24.82% Share
Currently, the combined TVL across all defi platforms stands at $49.31 billion as of May 6, 2023, with Lido Finance leading the pack by commanding a 24.82% share of $12.24 billion on Saturday.
DeFi Landscape Shakeup: PancakeSwap and Aave Crypto Outperformed by Collateral Network
As the decentralized finance (DeFi) ecosystem matures, new projects are emerging to challenge established players. Among these, Collateral Network (COLT) is making waves during its presale phase as it has already witnessed a surge of 40% to the current price of $0.014 in stage 2, already outperforming well-known DeFi giants such as Aave (AAVE) and PancakeSwap (CAKE). Let’s look at Collateral Network and why it’s making such an impact.
AAVE Investors Becoming Early Adopters of Sparklo
AAVE is a decentralized finance platform that allows users to borrow or lend tokens. The price has been affected by a recent downtrend, 11% in the past seven days and 1.4% in the past 24 hours at the time of writing. Furthermore, the current valuation of AAVE, $71, is far from the all-time high recorded in 2021, which was $666. Considering its bearish streak, investors are pessimistic about its chance of reaching or surpassing that price.
Three Whales Make Large Deposits in DeFi Protocols, Betting on ETH and WBTC
April 23 (Cointime) - According to Lookonchain (@lookonchain), three whales, who are likely the same person, have made significant deposits in Ethereum (ETH) and Wrapped Bitcoin (WBTC) on DeFi protocols.
Cointime News Wrapup-Afternoon: Blockchains Need an Interoperable Standard to Evolve, Say Crypto Execs
Industry commentators believe that blockchain technology needs an open communication standard, similar to TCP/IP, to enable a complete transition from Web2 to Web3.
Aave’s Proposal to Launch on zkEVM Passes ‘Temperature Check’ Vote
The Aave community has voted overwhelmingly in support of deploying the decentralized exchange (DEX) Aave on the zkSync Era Mainnet, with only 0.02% voting against the proposal. The next steps will involve further discussion, risk parameter evaluation, and finalization of the proposal, followed by on-chain governance approval. Deploying on zkSync is expected to introduce new users to DeFi and cement Aave as a premier borrowing platform within the zero-knowledge ecosystem. Aave previously voted to deploy the Aave V3 codebase on zkSync's v2 Testnet, and Uniswap is also set to launch on the zkEVM solution from scaling solution provider Polygon after a successful governance proposal. (Cointelegraph)
