Aave

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The Aave technical chart displays an overall sideways trend. However, the price action has been resonating in a descending triangle pattern, which eventually fallout from the $160 neckline. The coin price sustaining below this level could extend the correction rally and pump it beyond the $100 mark.
Key technical points: 

The daily-RSI Slope approaches the oversold region. 
The 20-and-100-day MA hints at a bearish crossover
The intraday trading volume in AAVE/USD is $333.7 Million, indicating a 9.3% fall.

Source- Tradingview
In our previous coverage of Aave technical analysis, Coingape warned about the possible bearish reversal from the falling trendline, which plunged the coin price to $200 support. Moreover, the technical chart revealed a descending triangle pattern in the daily time frame chart.
The recent blood bath in the crypto market devalued the AAVE price by 38% in just a week. The coin price gave a bearish breakdown from the $160-$150 neckline, inviting more sellers in the market. 
The AAVE/USD technical chart shows the 100 MA line provides dynamic to the coin price. Moreover, the bearish crossover of the 20 and 50 MA could accelerate the ongoing selling.
The daily-Relative Strength index slope crashed to the 30% mark, preparing to enter the oversold region.
AAVE Price Could Drop To The $100 Mark
Source-Tradingview
On January 22nd, the AAVE price-free fall breached the $160-150 support zone. The price action showed a 1-day retest, followed by today’s 7% red candle. If the sellers managed to sustain this coin below the $150 mark the coin price could pump to $79 or $50 mark.
The super trend indicator turned red in the 4-hour chart, confirming the bearish trend in the market.

Resistance levels- $3000, $3670
Support levels are$79 and $50 

The post Aave Price Analysis: AAVE Price Could Lose 3 Digit Price; Eyes On Descending Triangle Influence  appeared first on CoinGape.


The Aave technical chart displays an overall sideways trend. However, the price action has been resonating in a descending triangle pattern, which eventually fallout from the $160 neckline. The coin price sustaining below this level could extend the correction rally and pump it beyond the $100 ma...

coingape.com

Aave Price Analysis: AAVE Price Could Lose 3 Digit Price; Eyes On Descending Triangle Influence 

Decentralized finance (DeFi) lending platforms are seeing record-shattering volumes of liquidations. In the past 24 hours, DeFi liquidations have surpassed $39.25 million according to data from OKLink, a multi-chain blockchain explorer. DeFi lending protocol Aave has seen the most loan liquidations among lending platforms.
DeFi liquidations in the last 24 hours nearing alarming multi-month high levels
According to data from OKLink, DeFi lending liquidations in the last 24 hours have reached levels last seen in December last year. There have been over $39 million in DeFi liquidations across DeFi lending protocols. Ethereum based lending protocol, Aave has been the single biggest contributor to the metric having seen over $25 million worth of liquidations (over 60% of the total).
The daily move in liquidation has surpassed the total DeFi liquidations recorded in October and November which recorded $32.48 million and $33.77 million respectively according to data from The Block. However, the highest liquidations recorded on DeFi platforms was in May last year which saw $1.33 billion in liquidation.
DeFi lending liquidation has parallels with traditional bank loans. It is similar to how banks liquidate a borrower’s collateral to pay off loans in case of default to cover the loan. DeFi lending platforms allow users to deposit their cryptocurrency as collateral and borrow against it. Liquidations occur when the price of the collateral reaches the liquidation price and the protocol sells off the asset to pay off the loan automatically.
What has caused the current liquidation cascade?
The current liquidation has been spurred on by market volatility. The crypto market cap dropped 11.23% to currently stand at $1.81 trillion per Coinmarketcap (CMC) data. The sharp drop has wiped off over $230 from the crypto market. Ethereum, the major facilitator of DeFi lending platforms, saw its price drop 13.79% to currently be trading at around $2,700.
The market bloodbath has also seen massive liquidations recorded in the crypto derivatives market. At the time of writing, the crypto futures market has recorded over $875 million per data from Coinglass. Over 85% of the liquidations have been long positions getting wiped out.
The crypto market crash has been attributed to fear, uncertainty, and doubt emanating from various recent regulatory announcements about crypto. Russia revealed plans to ban the use of crypto and crypto mining. The US Securities and Exchange Commission also recently stated that it would focus on regulating crypto exchanges in 2022.
The post DeFi’s Liquidation Volume Hits  $34.33 M ATH, The Highest Since Last year’s December appeared first on CoinGape.


Decentralized finance (DeFi) lending platforms are seeing record-shattering volumes of liquidations. In the past 24 hours, DeFi liquidations have surpassed $39.25 million according to data from OKLink, a multi-chain blockchain explorer. DeFi lending protocol Aave has seen the most loan liquidatio...

DeFi’s Liquidation Volume Hits  $34.33 M ATH, The Highest Since Last year’s December

Aave is a decentralized finance (DeFi) etiquette that supports lending & borrowing of cryptocurrency. While lending, they earn interest & while borrowing, they pay interest. The entire ‘lend’ & ‘borrow’ process can be carried out without going to a centralized negociant.
Aave is invigorated upon the Ethereum network. All the tokens on AAVE use the Ethereum blockchain for transactions. These transactions are known as ERC20 tokens. The convention uses an independent decentralized organization known as DAO. DAOs are managed and controlled by the people associated with AAVE tokens.
AAVE is the local governance token of the Aave protocol. Investors belonging to Ethereum cryptocurrency are eligible to review as well as vote on proposals influencing the project’s administration.
AAVE is one of the leading decentralized finance protocols. Market Cap considers the AAVE token to be the largest Defi coin. Ethereum investors can use Aave to borrow and lend their cryptocurrencies in a decentralized manner.
This is How AAVE Works 
The latest & enhanced AAVE is like ETHlend’s concept. Aave and ETHLend allow Ethereum users to acquire cryptocurrency loans or earn a return by lending holdings. Yet, the two are disparate at their core.
Aave can be considered to be an algorithmic money market. This means loans can be attained via a pool rather than an individual lender. To obtain the loan, there’s a fixed interest rate. The interest rate charged depends on the “utilization rate” of the assets in a pool. 
Supposing that single assets in a pool are used, the interest rate can persuade liquidity providers to deposit more capital. If all assets in a pool are used, the interest rate will automatically fall, persuading liquidity providers to borrow more.
Aave has another distinctive feature. It allows users of originating loans in a cryptocurrency that’s different from the original deposit crypto. For example, a user who deposits Ethereum (ETH) can withdraw stablecoins to deposit into Yearn. Finance (YFI), thereby making a profit. All types of loans are asset-based, just like ETHLend. Asset-based loans are such where a user can borrow $100 worth of cryptocurrency through Aave. And the same user will have to deposit more than the borrowed amount.
Owing to the volatile nature of cryptocurrencies, Aave includes a liquidation process. Suppose the collateral provided by a user falls under the protocol’s collateralization ratio. The user’s collateral is considered liquidated. It is important to note that the fee charged is liquidations. A user must be well aware of the risks associated with depositing funds into Aave before posting collateral.
Defi Protocol & Savings: More Flexible and Efficient
DeFi savings are somewhat similar to bank savings. Anyone using DeFI can lend a cryptocurrency (DAI or USDC) to a lending pool and collect high interest. The interest earned here is much more than bank savings which eventually grows your savings.
DeFi users can earn high yields as compared to banks. This is possible only due to the unmatchable urge for leverage. Moreover, DeFI users can earn interest through native tokens and protocol fees. The DeFi protocol is maturing day by day & hence its adoption is also growing. Today, several users are well aware of the profusion of opportunities to earn interest on their crypto assets.
To earn interest on one’s savings is an old concept. In the system of traditional banking, people store their funds in banks. The users then are awarded a small interest rate in return for lending out their assets. From the 1980s and 1990s, traditional banks paid interest somewhere between 5% and 10%, whereas today the rates are closer to 0.5%.
DeFi creates an alternative way to earn higher on one’s assets. The users of DEFI need not lock their fiat money away in a bank account. They can instead lock up your crypto assets in smart contracts in exchange for yield.
 
The post AAVE Protocol- You Can Use DEFI to Earn More Interest Than Banks appeared first on CoinGape.


Aave is a decentralized finance (DeFi) etiquette that supports lending &#38; borrowing of cryptocurrency. While lending, they earn interest &#38; while borrowing, they pay interest. The entire &#8216;lend&#8217; &#38; &#8216;borrow&#8217; process can be carried out without going to a centralized ...

AAVE Protocol- You Can Use DEFI to Earn More Interest Than Banks

On January 5, the open-source non-custodial decentralized finance (defi) lending platform Aave launched a permissioned version of the protocol aimed at institutions. The platform dubbed Aave Arc will leverage Fireblocks as the first whitelister as the platform aims to help bridge traditional financial institutions with defi.
KYC-Centric Defi Liquidity: Aave Launches Aave Arc Permissioned Protocol for Financial Institutions
Aave has launched a permissioned platform called Aave Arc on Wednesday, a new protocol dedicated to financial institutions that want to particpitate in defi in a compliant manner. Aave is a popular defi lending platform and the defi protocol has the third-largest total-value locked (TVL) today. Metrics show that Aave has a $14.52 billion TVL spread across three blockchains including Ethereum, Avalanche, and Polygon.
The crypto custody firm Fireblocks has approved 30 financial entities to join Aave Arc. The list includes firms like Ribbit Capital, Coinshares, Hidden Road, Wintermute, and Celsius. Aave revealed the Aave Arc concept in July 2021, and in mid-November it was disclosed that Fireblocks was the first whitelister. The defi startup also described how Aave Arc would work after explaining that defi was “inaccessible to traditional financial institutions.”
“Aave Arc is a permissioned market based on the Aave V2 market,” Aave said at the time. “In the spirit of innovation and experimentation, Aave Arc creates a Web3-native experience for financial institutions to harness the power of defi in a permissioned sandbox environment.” The defi startup added:
True to the values of defi, Aave Arc is designed to be fully decentralized and governed by Aave Governance. ‘Whitelisters’ that KYC and onboard institutions and corporations onto Aave Arc can be appointed or removed by Aave protocol governance.

Whitelister Fireblocks Envisions ‘Institutional Interest in Cryptocurrency Accelerating in 2022’
Essentially, the new platform allows traditional finance companies to participate with the Aave system but leverage a permissioned liquidity pool. The crypto custody firm Fireblocks believes that more institutions will embrace cryptocurrency and the belief is the company’s top prediction for 2022. “Institutional interest in crypto will accelerate in 2022,” Fireblocks says in a blog post.
“This adoption will gain more momentum from developments in post-trade infrastructure that are currently being implemented across the marketplace,” Fireblocks 2022 prediction post adds.
Aave’s native crypto asset, aave (AAVE) has a market valuation of around $3.47 billion on January 5, 2022, and $294 million in global trade volume. Weekly stats show AAVE is up over a percent, two-week metrics indicate the asset has gained 38.1% and year to date, AAVE has gained 135%.
What do you think about the permissioned defi platform Aave Arc? Let us know what you think about this subject in the comments section below.



























On January 5, the open-source non-custodial decentralized finance (defi) lending platform Aave launched a permissioned version of the protocol aimed at institutions. The platform dubbed Aave Arc will leverage Fireblocks as the first whitelister as the platform aims to help bridge traditional fina...

news.bitcoin.com

Defi Lending Startup Aave Launches Permissioned Platform to Entice Financial Institutions

For more than six months, the AAVE token price has been resonating between the $450 and $160 mark, indicating a sideways rally. Its recent recovery from the latter half of December 2021 surged 75% to the $280 resistance. However, the major technical acting as resistance could dumb the price back to $160 support.
Source- Tradingview
Past Performance in AAVE token chart
In September 2021, the token initiated a retracement phase from the $420 resistance zone, aiming for the bottom support near $160. A descending trendline leads this short-term downtrend by acting as a dynamic resistance level.
On December 15th, the pair plunged to the $160 support, indicating a 64% loss from the top resistance of the range. The token experience intense demand pressure from this support resulted in a quick recovery to the $280 mark.
AAVE Token Displays A Rounding Bottom Pattern.
Source- Tradingview
The AAVE token price is currently struggling to overcome the $280 mark. A confluence of the resistance trendline and 200 EMA indicate this level as a strong area of interest that would require a significant amount of buying pressure to make a breakout. However, the technical chart shows several higher price rejection candles at this resistance, suggesting another possible bearish reversal.
On a contrary note, the 4-hour time frame chart shows the formation of a cup and handle pattern. This pattern could help the price breach the descending trendline, providing an excellent long signal that could climb to the $446 mark.
By the press time, the AAVE token is trading at $278.5, with an intraday gain of 3.51%. The 24hr volume change is $540.7 Million, indicating an 86.5% hike. According to Coinmarketcap, the token stands at 46th rank with its current market cap of $3.69 Billion(+5.78).
Technical Indicators-                                                                                              
-The daily Relative Strength Index(60) shows impressive recovery in its chart, crossing above the neutral line and 20-SMA.
– The sideways trend in the AAVE token has flattened the crucial (100 and 200 EMA). Moreover, the price is still trading below the 200 EMA, indicating a bearish trend for this token. However, the recent rally has filled the dynamic resistance into possible support.
-The traditional pivot shows remarkable confluence with the daily AAVE/USD chart level. According to these pivot levels, the crypto traders can expect the nearest resistance at $298, followed by $330. As for the opposite end, the support levels are $265 and $230.
The post AAVE Price Analysis: A Descending Trendline Threatens Bearish Reversal In AAVE Token appeared first on CoinGape.


For more than six months, the AAVE token price has been resonating between the $450 and $160 mark, indicating a sideways rally. Its recent recovery from the latter half of December 2021 surged 75% to the $280 resistance. However, the major technical acting as resistance could dumb the price back ...

AAVE Price Analysis: A Descending Trendline Threatens Bearish Reversal In AAVE Token

The start of the new year has brought back bulls for Defi altcoins as some of the top performers on New Year Monday include Uniswap (UNI), AAVE, and Yearn.Finance (YFI) topping the charts with the biggest gains for the day. Santiment data showed that even though a majority of the market remained nearly flat with little to no bullish momentum, Defi altcoins registered a prominent surge up to 13%
Source: Santiment
The last quarter of 2021 was expected to be bullish after a September sell-off, however, apart from October, both November and December ended in red leading to the crypto market falling to levels seen during the July-August phase. The crypto market reached another new all-time high (ATH) in October as the overall crypto market cap climbed above $3 trillion. However, by the end of 2021 crypto market has lost another 30% of its market from October.
Can the Defi market bring the bulls back?
The Defi market is still one of the most sought-after crypto use cases despite a string of hacks and rug pulls. The total defi market cap is currently hovering above $160 billion and YFI made the biggest leap over the past 24-hours with a 13% surge in price. YFI formed six consecutive green candles on the daily chart indicating a bullish surge even at a time when the rest of the crypto market was consolidating. YFI was trading at $40,881 at the time of writing and looks set to continue its surge further.
Source: TradingView
YFI was followed by UNI in terms of daily gains and rose nearly 9% over the past 24-hours. The top Dex platform has recently shifted to the Polygon network which has turned out to be a success and many belive its current price surge is fueled by the successful migration to Matic.
Source: TradingView
The majority of mainstream crypto be it Bitcoin (BTC), Ethereum (ETH) and several others are yet to show signs of bull revival, however, the rise of the defi altcoins would surely give some hope for another altseason soon.
The post DeFi market shows signs of recovery on first Monday of New year; $YFI, $UNI, $AAVE among the top performers appeared first on CoinGape.


The start of the new year has brought back bulls for Defi altcoins as some of the top performers on New Year Monday include Uniswap (UNI), AAVE, and Yearn.Finance (YFI) topping the charts with the biggest gains for the day. Santiment data showed that even though a majority of the market remained ...

DeFi market shows signs of recovery on first Monday of New year; $YFI, $UNI, $AAVE among the top performers

Over the last 24 hours, the crypto industry traded in the red, although some coins had already embarked on a northbound journey. Aave had risen by 9.6% in the last 24 hours, while SushiSwap had logged a gain of 7.1% within the same time frame.
Near-term technicals of both the coins indicated positive price action on their respective charts. Both the coins toppled over their resistance lines and saw the entry of buyers into the market. Aave was trading for $262.94 while SushiSwap was exchanging hands at $10.77.
Aave/USD Four Hour Chart

Aave was trading above the support line of $231.54 as it recovered slightly overnight. On the four-hour chart, the coin was placed above the 20-SMA mark, which meant that the buyers were more in number than the sellers in the market.
The coin could target its overhead ceiling at the $286.81 level with a consistent buying strength. Its support level stood at $231.54, falling beneath which the coin could trade close to $203.29. Aave’s price trajectory was bullish ever since December 20; however, the coin also witnessed patches of downward price action, but Aave was quick to recover from that.
The Relative Strength Index noted an uptick which signified increased buying strength as the indicator preferred the bulls. On Balance Volume also chose to side with the bulls as the indicator had shot up, signifying that buyers exceeded sellers in the market.
Sushi/USD Four Hour Chart

SushiSwap had shown impressive growth over the past week and a half. It had recently broken above the $9.91 mark and was seen trading in double digits at the time of writing. The immediate price level in the event of a pullback stood at $7.89.
The overhead price level stood at $10.88, while the other resistance level was at $11.59. Over the last week, Sushi gave 60.8% returns on its ROI, which is quite massive among the returns incurred by the top De-Fi coins.
The Relative Strength Index was hovering near the 75-mark, suggesting excess buying pressure as the asset was overbought at the time of writing. On Balance, Volume was on a steady incline, telling that selling volume was low as buying volume and pressure consistently was picking up. MACD was bullish too, with green histograms after the indicator underwent a bullish crossover.
The post Aave and Sushiswap Price Analysis: De-Fi Coins On A Rise, Register Over 7% Hike appeared first on CoinGape.


Over the last 24 hours, the crypto industry traded in the red, although some coins had already embarked on a northbound journey. Aave had risen by 9.6% in the last 24 hours, while SushiSwap had logged a gain of 7.1% within the same time frame. Near-term technicals of both the coins indicated posi...

Aave and Sushiswap Price Analysis: De-Fi Coins On A Rise, Register Over 7% Hike

Today, the crypto market displayed mixed trading signs, with some coins flashing consolidation while others have either appreciated or depreciated in the last 24 hours.
The market capitalization stood at $2.45 Trillion with a 2.5% adverse change in the last 24 hours.
At press time, Aave was priced at $278.88 while PancakeSwap struggled to break its immediate resistance price level. The technicals of these two coins portrayed mixed signals with more inclination towards a positive price action.
Aave/USD Four Hour Chart

Aave’s price saw an uptrend in the last few days, right after the altcoin had formed a rounding bottom on its chart. In accordance with what follows, the prices of Aave noted appreciation as the coin toppled over many resistance lines one after the other.
Over the last 24 hours, the coin’s price action was quite mundane as it was mainly consolidating above the $272.16 level. Overhead resistance for the coin stood at $310.38. Aave displayed a death cross, which signifies a trend reversal. The chances of a downward price action remain.
The price of Aave was above the 20-SMA line, which signified that buying pressure still dominated the market. As a price reversal could occur, the immediate price where Aave could find support rested at $272.16 and then $236.21.
The Relative Strength Index was slightly below the 75 mark signaling heavy buying pressure in the market. Awesome Oscillator displayed red histograms, although they were decreasing in magnitude.
CAKE/USD Four Hour Chart

PancakeSwap has been experiencing a mundane price action over the past few days and was trading for $12.56 at writing. Immediate overhead resistance stood at $12.93, moving above which the coin could trade near the $14.59 price level.
Near-term technicals for the coin pointed towards a bullish price action in the market, with main technical indicators displaying buying pressure.
The Relative Strength Index was above the half-line as CAKE was still positive despite trading laterally in the past few days. A fall beneath this level will cause CAKE to trade near the $10.80 price mark. Awesome Oscillator displayed red histograms. However, the histograms were declining in size marking a slow down of bearishness.
The Directional Movement Index was positive despite sideways trading, and the +DI line was still seen above the -DI line as selling pressure hadn’t taken over as of yet.
The post Price Analysis: Aave Flashed A Death Cross While Pancakeswap Remained Consolidated appeared first on CoinGape.


Today, the crypto market displayed mixed trading signs, with some coins flashing consolidation while others have either appreciated or depreciated in the last 24 hours. The market capitalization stood at $2.45 Trillion with a 2.5% adverse change in the last 24 hours. At press time, Aave was price...

Price Analysis: Aave Flashed A Death Cross While Pancakeswap Remained Consolidated

The market-wide rally has pushed multiple coins up in their charts. Terra out of the top gainers propelled by almost 18%, while XRP and AAVE followed with over 8% gains in the last 24 hours.
Today’s global cryptocurrency market cap is $2.42 Trillion, with a 1.7% positive change in the last 24 hours. XRP traded for $0.95 while eyeing the dollar mark at press time. AAVE was priced at $197.04, while Terra could touch the $100 mark in the subsequent trading sessions.
Terra/LUNA/USD Four-Hour Chart 

LUNA has set out on a massive uptrend with no signs of a price correction at the time of writing. In over a week LUNA’s ROI shot up by 62.6%. Buyers have swarmed the market in anticipation of securing profits as Terra’s ascent has been quite terrific in the last week.
Near-term technicals have painted an extremely bullish outlook on Terra’s Four-Hour trading chart.
The price of Terra rested way above the 20-SMA line, a reading that confirms the positive price action tied to increased buying power in the market. Immediate resistance for the digital currency stood at $100.83 while a fall could result in Terra trading near its price floor of $76.49, marking a 22% fall in market value.
The Relative Strength Index was parked above the overbought zone. Awesome Oscillator displayed growing green histograms at press time signalling a bullish growth in prices, however, profit booking could soon drive prices down.
XRP/USD Four-Hour Chart

The month of December saw XRP lose its ground consistently. However, in the last two days, Ripple was seen undoing the losses it incurred. The altcoin could soon head for a double-digit gain as the coin was trading very close to the $1.00 mark.
This instance has pushed XRP to be overvalued and overbought, a condition the coin has witnessed a few very times in the last month and a half. It has held itself well above the immediate support level of $0.91, and its resistance point stood at $1.00. At the time of writing, XRP had broken into an upward channel price action.
The Relative Strength Index highlighted a massive jump in buying strength, while AROON preferred the bulls at press time. MACD underwent a bullish crossover and displayed green signal bars. If a bearish push managed to invalidate the current momentum, the price might immediately land up near $0.91 and then at $0.80.
AAVE/USD Four-Hour Chart

AAVE managed to sustain itself above its crucial support line of $163.19 as the coin was priced at $197.01. The token had received a sharp pullback from the 78.6% Fibonacci level, and a major resistance point for AAVE was the 50% Fibonacci level.
The buying pressure in the market was seen to be positive as the coin grew by 17% in the last week itself.
The Relative Strength Index was headed toward the overbought zone as the coin was quite overvalued at press time. On the flip side, the support level for the coin stood at $163.19. The Directional Movement Index chose to side the bulls as the +DI line was placed above the -DI line.
The post Terra, XRP And Aave Price Analysis: Coins Log Substantial Gains Over The Week appeared first on CoinGape.


The market-wide rally has pushed multiple coins up in their charts. Terra out of the top gainers propelled by almost 18%, while XRP and AAVE followed with over 8% gains in the last 24 hours. Today&#8217;s global cryptocurrency market cap is $2.42 Trillion, with a 1.7% positive change in the last ...

Terra, XRP And Aave Price Analysis: Coins Log Substantial Gains Over The Week

The Aave Improvement Proposal (AIP) 44 was approved after a community voting today, reported Wu Blockchain. The AIP-44 will patch the vulnerability discovered in the defi protocol a week ago. The vulnerability could have been exploited with xSUSHI as collateral, but with the AIP-44 approval borrowing for xSUSHI and  DeFi Pulse Index (DPI) will be deactivated.

Aave’s AIP-44 community proposal has been passed, Justin Sun may choose to re-deposit assets.
— Wu Blockchain (@WuBlockchain) November 2, 2021

The proposal was expected to pass given it received 575,000 votes in favor while only a single vote against it.


1/7 Today @gauntletnetwork submitted an AIP proposing to disable the borrow function for $xSUSHI and $DPI on V2 of the Aave Protocol as a precautionary measure. The AIP also will disable borrowing of AMM LP tokens on the Aave Protocol AMM Market as an extra safeguard. A thread
— Aave (@AaveAave) October 29, 2021

Earlier, Aave claimed that the vulnerability found in the XSushi collateral was not exploitable, however, Yearn finance engineer Banteg revealed that the vulnerability was available for 160 days. Now that the improvement proposal is approved, the vulnerability can finally be patched.
All Eyes on Justin Sun’s $4.5 Billion
Justin Sun, the founder of Tron made headlines a couple of days back as Aaave introduced the AIP-44 proposal after finding the vulnerability. Sun withdrew $4.5 billion worth of assets from the Aave protocol. Many believed the movement of funds was based on a recent exploit on Cream Finance that lead to a loss of millions of dollars worth of assets. Along with Sun, several other investors also pulled out of the Aave protocol as its total value locked fell by 20%.
All eyes are now set on Sun and whether he would redeposit all the assets back, now that the vulnerability has been patched or choose otherwise. The current TVL of AAVE is at $13.83 billion, falling from the monthly high of over $20 billion.
Source: Defilama
The price of AAVE continues to trade above $300 as the recent vulnerability and movement of funds away from the protocol didn’t really impact its price. The defi protocol hit an ATH of $666 in May this year. The rising number of Defi exploits conitnue to put a dent in Defi ecosystem’s growing popularity, as there is some form of hack or scam on one protocol or the other. The most recent ones being Cream Finance and BXH.
The post Aave’s AIP-44 Community Proposal Gets Approved, Will Justin Sun Redeposit $4.2 Billion? appeared first on Coingape.


The Aave Improvement Proposal (AIP) 44 was approved after a community voting today, reported Wu Blockchain. The AIP-44 will patch the vulnerability discovered in the defi protocol a week ago. The vulnerability could have been exploited with xSUSHI as collateral, but with the AIP-44 approval borro...

Aave’s AIP-44 Community Proposal Gets Approved, Will Justin Sun Redeposit $4.2 Billion?

Justin Sun, Tron founder recently withdrew $4.2 billion from Aave lending pools, affecting the liquidity of the Defi lending network, further causing a spike in interest rates. According to market speculations, the sudden and expensive liquidation is the result of the ongoing debate on Twitter between the Yearn and Aave community, regarding Aave being vulnerable to a potential exploit.
Yesterday, Yearn founder, Andre Cronje took to Twitter to highlight that the Aave protocol “is vulnerable to the same exploit” that CREAM finance suffered earlier this week. The Defi network, Cream Finance suffered $130 million worth of a flash loan attack, and the community is now at war with Aave for scrutinizing the protocol’s security by speculating a potential exploit.

Aave core after 24 hour defamation marathon on yearn for cream being exploited, while Aave is vulnerable to the same exploit. How is that disclosure of funds at risk going for your users? 2nd full protocol exploit. Tell me again how much better your security is. https://t.co/OahM8BJS9w
— Andre Cronje  (@AndreCronjeTech) October 29, 2021

AIP 44
In lieu of the raging exploit speculation Aave is set to temporarily suspend borrowing on xSushi and Defi Pulse Index (DPI), along with freezing deposits, borrows, and rate swaps for UNI/BAL AMM Markets after a proposal by the community members, appealing the protocol to take the mentioned precautionary measures. With nearly 590,000 votes for the proposal and only 1 against, Aave Improvement Proposal (AIP) 44 is gravitating completely towards getting passed. However, voting doesn’t close until tomorrow, and given the decentralized twists, anything can happen.
Flash Loans in the NFT market
The flash loans concern is not limited to Defi’s lending protocols. Yesterday, the Non-Fungible Token (NFT) market was hit with a flash loan hack aimed at raising the floor price of the token. The white-haired, green-eyed pixelated character known as the CryptoPunk 9998, which was bought for $532 Million from a loan that the attacker borrowed, was sent to the bidder’s wallet but with a hiked floor price, according to the Ethereum blockchain. In a more traditional market, this process would be referred to as, wash trading, which is also under regulators’ oversight for being a crypto tax loophole.
Larva Labs, the CryptoPunks founder, revealed on Twitter that this process is called, “flash loans”. “In a nutshell, someone bought this punk from themself with borrowed money and repaid the loan in the same transaction.”
The post Tron founder withdraws over $4 billion from Aave protocol amid exploit speculations appeared first on Coingape.


Justin Sun, Tron founder recently withdrew $4.2 billion from Aave lending pools, affecting the liquidity of the Defi lending network, further causing a spike in interest rates. According to market speculations, the sudden and expensive liquidation is the result of the ongoing debate on Twitter be...

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