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Concerns Raised Over CRV Deposits on AAVE Being Used for Collateralization

June 23 (Cointime) - The amount of CRV being used as collateral on Aave has been growing rapidly, raising concerns about potential risks. This surge in lending and borrowing positions was caused by Curve Finance raising its debt ceiling through a proposal that was passed on June 8th.

Concerns have been raised due to the fact that Curve Finance CEO Michael Egorov has reportedly been depositing CRV into Aave V3 to liquidate tokens obtained from Curve Finance's vesting schedule, which could dilute the price. On-chain metrics suggest that CRV's performance is based on the overall state of the market, and many investors are opting to be cautious.

Curve DAO Token Curve DAO Token $0.55
+13.44%
AAVE Curve Finance
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